Wix.com (NASDAQ:WIX) Price Target Raised to $228.00

Wix.com (NASDAQ:WIX) had its price target raised by Bank of America from $190.00 to $228.00 in a report released on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the information services provider’s stock.

A number of other research firms have also weighed in on WIX. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. JMP Securities restated a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a research report on Thursday, July 25th. Benchmark increased their price target on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday. Finally, Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $217.20 on Wednesday. The firm has a fifty day moving average of $169.52 and a 200 day moving average of $162.14. The firm has a market cap of $11.91 billion, a PE ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47. Wix.com has a one year low of $95.65 and a one year high of $220.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in shares of Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the period. CWM LLC grew its position in shares of Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after acquiring an additional 101 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its position in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after acquiring an additional 488 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

About Wix.com

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.