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

Wix.com (NASDAQ:WIX - Get Free Report) had its price objective boosted by research analysts at Citigroup from $260.00 to $270.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Citigroup's target price points to a potential upside of 21.21% from the stock's current price.

Several other brokerages have also issued reports on WIX. 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. Piper Sandler increased their price target on shares of Wix.com from $200.00 to $249.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on Wix.com from $195.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a research report on Saturday, November 23rd. Finally, Benchmark upped their price target on Wix.com from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wix.com presently has a consensus rating of "Moderate Buy" and an average target price of $214.71.

Wix.com Stock Up 2.9 %

Wix.com stock traded up $6.22 during trading hours on Friday, hitting $222.75. The stock had a trading volume of 471,877 shares, compared to its average volume of 511,639. The company has a 50-day moving average of $204.03 and a two-hundred day moving average of $176.20. Wix.com has a fifty-two week low of $116.27 and a fifty-two week high of $229.79. The company has a market cap of $12.21 billion, a PE ratio of 139.22, a price-to-earnings-growth ratio of 4.22 and a beta of 1.55.

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in WIX. Blue Trust Inc. boosted its holdings in Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted 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 purchasing an additional 130 shares during the period. CWM LLC boosted its stake 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 valued at $106,000 after purchasing an additional 101 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock worth $116,000 after buying an additional 491 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock worth $124,000 after buying an additional 124 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.