Royal Bank of Canada Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price target raised by Royal Bank of Canada from $190.00 to $245.00 in a report issued on Thursday,Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a report on Wednesday, November 20th. KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating for the company. Barclays increased their price objective on Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Benchmark upped 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. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Performance

Shares of WIX opened at $217.20 on Thursday. Wix.com has a 1 year low of $95.65 and a 1 year high of $220.22. The stock has a market capitalization of $11.91 billion, a PE ratio of 135.75, a PEG ratio of 4.21 and a beta of 1.47. The stock has a 50-day simple moving average of $170.73 and a 200-day simple moving average of $163.10.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. iA Global Asset Management Inc. grew its position in Wix.com by 176.5% in the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after buying an additional 10,427 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after acquiring an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of Wix.com during the third quarter worth about $661,000. Quadrature Capital Ltd raised its holdings in Wix.com by 65.1% during the first quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock worth $3,095,000 after purchasing an additional 8,879 shares in the last quarter. Finally, Tidal Investments LLC acquired a new stake in Wix.com in the first quarter valued at about $5,197,000. Hedge funds and other 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.