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

Wix.com (NASDAQ:WIX) had its price target lifted by Citigroup from $260.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup’s target price suggests a potential upside of 21.21% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Barclays increased their price target on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Bank of America upped their target price on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. B. Riley lifted their price target on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.71.

Wix.com Trading Up 2.9 %

WIX stock opened at $222.75 on Friday. The business’s 50 day simple moving average is $204.03 and its 200 day simple moving average is $176.20. Wix.com has a 1-year low of $116.27 and a 1-year high of $229.79. The firm has a market capitalization of $12.21 billion, a PE ratio of 139.22, a PEG ratio of 4.22 and a beta of 1.56.

Institutional Trading of Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 last quarter. Franklin Resources Inc. raised its stake in Wix.com by 8.9% during the third quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock worth $7,673,000 after acquiring an additional 3,864 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Wix.com by 3.4% in the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider’s stock worth $5,792,000 after acquiring an additional 1,127 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Wix.com during the 3rd quarter valued at approximately $10,523,000. 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.