Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Wix.com (NASDAQ:WIX) had its price objective boosted by JPMorgan Chase & Co. from $195.00 to $205.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

A number of other research analysts have also recently weighed in on WIX. KeyCorp initiated coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and raised their target price for the company from $184.00 to $200.00 in a research note on Monday, September 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $180.00 price target on shares of Wix.com in a research report on Thursday, July 25th. Bank of America raised their target price on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Down 0.9 %

Shares of Wix.com stock opened at $217.20 on Wednesday. Wix.com has a fifty-two week low of $95.65 and a fifty-two week high of $220.22. The business’s fifty day moving average is $170.73 and its two-hundred day moving average is $162.82. The firm has a market cap of $11.91 billion, a PE ratio of 135.75, a P/E/G ratio of 4.25 and a beta of 1.47.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake 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 worth $31,000 after acquiring an additional 98 shares during the period. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares during the period. CWM LLC boosted its stake in Wix.com by 19.0% during 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 in the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 124 shares during the period. 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.