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JPMorgan Chase & Co. Cuts Wix.com (NASDAQ:WIX) Price Target to $189.00

Wix.com logo with Computer and Technology background

Wix.com (NASDAQ:WIX - Get Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $205.00 to $189.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the information services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 4.60% from the company's previous close.

A number of other analysts have also recently commented on the stock. Morgan Stanley raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. Robert W. Baird increased their price objective on shares of Wix.com from $175.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, November 25th. Barclays increased their price objective on shares of Wix.com from $184.00 to $236.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. 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 research note on Thursday, November 21st. Finally, Cantor Fitzgerald increased their price objective on shares of Wix.com from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $245.83.

Check Out Our Latest Stock Report on Wix.com

Wix.com Trading Down 2.7 %

WIX stock traded down $5.54 during midday trading on Wednesday, reaching $198.11. 919,674 shares of the company's stock traded hands, compared to its average volume of 850,334. Wix.com has a 52-week low of $117.58 and a 52-week high of $247.11. The stock has a market cap of $10.86 billion, a P/E ratio of 84.30, a PEG ratio of 2.42 and a beta of 1.58. The stock's 50-day moving average is $226.63 and its 200 day moving average is $192.98.

Institutional Investors Weigh In On Wix.com

Several institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its holdings in shares of Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider's stock worth $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock worth $54,000 after acquiring an additional 56 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after acquiring an additional 63 shares during the last quarter. Finally, Vestcor Inc lifted its holdings in shares of Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider's stock worth $183,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 81.52% of the company's stock.

Wix.com Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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