B. Riley Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its target price hoisted by B. Riley from $190.00 to $220.00 in a research report report published on Thursday,Benzinga reports. B. Riley currently has a buy rating on the information services provider’s stock.

Several other equities research analysts have also recently weighed in on WIX. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday, November 20th. UBS Group increased their price target on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Royal Bank of Canada lifted their price objective on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday. JPMorgan Chase & Co. increased their target price on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Stock Down 0.9 %

WIX stock opened at $217.20 on Thursday. Wix.com has a 52 week low of $95.65 and a 52 week high of $220.22. The firm has a market capitalization of $11.91 billion, a P/E ratio of 135.75, a price-to-earnings-growth ratio of 4.21 and a beta of 1.47. The company has a fifty day simple moving average of $170.73 and a two-hundred day simple moving average of $163.10.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently made changes to their positions in WIX. Blue Trust Inc. increased its holdings in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after buying an additional 98 shares during the period. Advisors Asset Management Inc. boosted its position in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its holdings in shares of Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares during the period. CWM LLC raised its position in shares of Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after acquiring an additional 101 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.