Wix.com (NASDAQ:WIX) Price Target Raised to $250.00 at Benchmark

Wix.com (NASDAQ:WIX) had its price objective raised by Benchmark from $225.00 to $250.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other analysts have also recently weighed in on WIX. Piper Sandler increased their price target on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday. Bank of America increased their price target on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com cut shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three equities 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 stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $210.44.

Wix.com Trading Down 0.9 %

Shares of Wix.com stock opened at $217.20 on Thursday. The company has a fifty day simple moving average of $170.73 and a 200-day simple moving average of $162.82. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 4.25 and a beta of 1.47.

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 the business. Dorsal Capital Management LP raised its position in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Clearbridge Investments LLC raised its position in Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares during the last quarter. Senvest Management LLC raised its position in Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Renaissance Technologies LLC raised its position in Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its position in Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares during the last quarter. Institutional investors and hedge funds 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.