Wix.com (NASDAQ:WIX) Price Target Raised to $240.00

Wix.com (NASDAQ:WIX) had its price target increased by Cantor Fitzgerald from $200.00 to $240.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

Several other equities analysts have also recently issued reports on WIX. KeyCorp started coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. Piper Sandler upped their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday. UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $210.44.

Wix.com Stock Up 4.1 %

Shares of NASDAQ:WIX opened at $218.82 on Thursday. Wix.com has a fifty-two week low of $95.65 and a fifty-two week high of $220.22. The firm’s 50-day simple moving average is $169.52 and its 200-day simple moving average is $162.14. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. raised its holdings in 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 acquiring an additional 98 shares during the last quarter. Advisors Asset Management Inc. grew its position 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 purchasing an additional 130 shares during the period. Industrial Alliance Investment Management Inc. grew its position in shares of 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 valued at $94,000 after purchasing an additional 488 shares during the period. CWM LLC increased its stake in Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the period. 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.