Wix.com (NASDAQ:WIX) Price Target Raised to $270.00

Wix.com (NASDAQ:WIX) had its price target hoisted by Citigroup from $260.00 to $270.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other equities research analysts have also issued reports on WIX. B. Riley upped their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald raised their price target on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Bank of America boosted their price target on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Benchmark increased their price objective on shares of Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.71.

Wix.com Trading Up 2.9 %

WIX stock opened at $222.75 on Friday. The firm has a 50 day simple moving average of $204.03 and a 200-day simple moving average of $176.20. The company has a market capitalization of $12.21 billion, a P/E ratio of 139.22, a PEG ratio of 4.22 and a beta of 1.55. Wix.com has a twelve month low of $116.27 and a twelve month high of $229.79.

Hedge Funds Weigh In On Wix.com

Several large investors have recently made changes to their positions in WIX. Commonwealth Equity Services LLC lifted its position in shares of Wix.com by 101.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,304 shares of the information services provider’s stock valued at $1,003,000 after acquiring an additional 3,171 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Wix.com by 2.0% in the 2nd quarter. Van ECK Associates Corp now owns 16,578 shares of the information services provider’s stock valued at $2,637,000 after purchasing an additional 319 shares during the period. CIBC Asset Management Inc increased its stake in Wix.com by 2.9% in the 2nd 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. VELA Investment Management LLC raised its holdings in Wix.com by 29.5% during the 2nd quarter. VELA Investment Management LLC now owns 8,823 shares of the information services provider’s stock worth $1,403,000 after buying an additional 2,008 shares during the period. Finally, Lakehouse Capital Pty Ltd lifted its stake in Wix.com by 2,933.3% during the second quarter. Lakehouse Capital Pty Ltd now owns 48,108 shares of the information services provider’s stock valued at $7,653,000 after buying an additional 46,522 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

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.