Wix.com (NASDAQ:WIX) Given New $255.00 Price Target at UBS Group

Wix.com (NASDAQ:WIX) had its price objective raised by equities researchers at UBS Group from $250.00 to $255.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. UBS Group’s target price would indicate a potential upside of 21.26% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Jefferies Financial Group lifted their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $248.00 to $276.00 in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday. B. Riley lifted their target price on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their price target on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average price target of $244.33.

Wix.com Trading Down 3.1 %

Wix.com stock traded down $6.71 during trading on Thursday, reaching $210.29. The company had a trading volume of 211,599 shares, compared to its average volume of 814,571. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of 130.85, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The firm’s 50-day simple moving average is $227.05 and its 200 day simple moving average is $192.90. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11.

Institutional Trading of Wix.com

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in Wix.com by 518.3% in the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after acquiring an additional 1,266,202 shares in the last quarter. Durable Capital Partners LP bought a new stake in shares of Wix.com in the 4th quarter valued at approximately $89,839,000. SG Americas Securities LLC boosted its holdings in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the period. Whale Rock Capital Management LLC increased its position in shares of Wix.com by 55.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock valued at $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Finally, Senvest Management LLC raised its holdings in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after buying an additional 304,712 shares during the period. 81.52% of the stock is currently owned by institutional investors.

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.