Wix.com Ltd. (NASDAQ:WIX) Receives $220.59 Average Target Price from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $220.59.

A number of brokerages have recently commented on WIX. Bank of America increased their target price on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Citigroup upped their price target on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Barclays upped their target price on Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th.

Wix.com Stock Down 2.6 %

Shares of Wix.com stock opened at $218.62 on Wednesday. The firm has a market cap of $11.99 billion, a PE ratio of 136.64, a P/E/G ratio of 4.22 and a beta of 1.56. Wix.com has a twelve month low of $117.58 and a twelve month high of $229.79. The business has a 50-day moving average price of $209.67 and a 200 day moving average price of $178.43.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Commonwealth Equity Services LLC boosted its position in Wix.com by 101.2% during the second quarter. Commonwealth Equity Services LLC now owns 6,304 shares of the information services provider’s stock worth $1,003,000 after acquiring an additional 3,171 shares during the last quarter. Choreo LLC lifted its position in Wix.com by 16.0% during the second quarter. Choreo LLC now owns 5,221 shares of the information services provider’s stock worth $821,000 after buying an additional 719 shares during the period. Y.D. More Investments Ltd boosted its stake in Wix.com by 122.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 54,333 shares of the information services provider’s stock worth $8,643,000 after buying an additional 29,920 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Wix.com by 436.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 15,532 shares of the information services provider’s stock valued at $2,475,000 after buying an additional 12,639 shares during the period. Finally, Dai ichi Life Insurance Company Ltd acquired a new position in shares of Wix.com during the 2nd quarter valued at about $639,000. Institutional investors and hedge funds 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.