Wix.com (NASDAQ:WIX) Price Target Raised to $260.00 at Jefferies Financial Group

Wix.com (NASDAQ:WIX) had its price objective lifted by Jefferies Financial Group from $225.00 to $260.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 14.81% from the company’s previous close.

A number of other analysts have also commented on WIX. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Citigroup upped their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler lifted their price target on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Barclays increased their price objective on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their target price on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Four 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 stock. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average target price of $220.59.

Wix.com Stock Up 1.7 %

NASDAQ:WIX traded up $3.72 on Monday, hitting $226.47. The stock had a trading volume of 310,590 shares, compared to its average volume of 438,315. Wix.com has a 52 week low of $117.58 and a 52 week high of $229.79. The business’s fifty day moving average is $204.03 and its 200 day moving average is $176.31. The company has a market cap of $12.42 billion, a PE ratio of 141.54, a P/E/G ratio of 4.22 and a beta of 1.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Wix.com by 23.1% during 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 purchasing an additional 49,500 shares during the last quarter. Toth Financial Advisory Corp bought a new position in Wix.com in the 3rd quarter worth approximately $661,000. Dimensional Fund Advisors LP raised its holdings in Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after acquiring an additional 7,070 shares during the period. BNP Paribas Financial Markets raised its holdings in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after acquiring an additional 11,497 shares during the period. Finally, Lakehouse Capital Pty Ltd lifted its position in shares of Wix.com by 26.2% during the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after acquiring an additional 12,600 shares in the last quarter. 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.