Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Wix.com (NASDAQ:WIX) had its price target lifted by research analysts at Cantor Fitzgerald from $200.00 to $240.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 10.50% from the stock’s previous close.

A number of other research analysts have also recently issued reports on WIX. StockNews.com cut Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Bank of America boosted their target price on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. KeyCorp started coverage on shares of Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating for the company. Finally, Benchmark increased their price objective on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Price Performance

WIX stock opened at $217.20 on Thursday. The business has a fifty day moving average price of $169.52 and a 200 day moving average price of $162.14. Wix.com has a fifty-two week low of $95.65 and a fifty-two week high of $220.22. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 136.76, a P/E/G ratio of 3.91 and a beta of 1.47.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. iA Global Asset Management Inc. raised its holdings in Wix.com by 176.5% in the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock worth $2,246,000 after purchasing an additional 10,427 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after buying an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Wix.com during the 3rd quarter worth $661,000. Quadrature Capital Ltd lifted its holdings in Wix.com by 65.1% during the first quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock worth $3,095,000 after acquiring an additional 8,879 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in Wix.com in the first quarter valued at about $5,197,000. Institutional investors and hedge funds 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.