Royal Bank of Canada Raises Wix.com (NASDAQ:WIX) Price Target to $245.00

Wix.com (NASDAQ:WIX) had its target price lifted by Royal Bank of Canada from $190.00 to $245.00 in a research report report published on Thursday,Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

Several other research firms have also weighed in on WIX. UBS Group raised their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays raised their price objective on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald raised their price objective on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America raised their price objective on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Stock Down 0.9 %

Shares of WIX opened at $217.20 on Thursday. The firm has a 50-day moving average price of $170.73 and a 200 day moving average price of $162.82. The firm has a market capitalization of $11.91 billion, a PE ratio of 135.75, a P/E/G ratio of 4.25 and a beta of 1.47. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22.

Institutional Trading of Wix.com

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. CWM LLC lifted its position in shares of Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Wix.com by 2.9% in the second quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after purchasing an additional 136 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

About Wix.com

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.