JPMorgan Chase & Co. Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its price objective boosted by JPMorgan Chase & Co. from $195.00 to $205.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.44% from the company’s previous close.

Several other analysts also recently weighed in on WIX. Barclays dropped their target price on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Wix.com in a research note on Monday, October 7th. JMP Securities restated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Finally, Bank of America upped their target price on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $194.13.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $183.95 on Wednesday. The firm has a market capitalization of $10.08 billion, a P/E ratio of 145.99, a P/E/G ratio of 3.84 and a beta of 1.47. The business’s 50-day moving average is $166.46 and its 200 day moving average is $160.95. Wix.com has a 1 year low of $95.39 and a 1 year high of $192.00.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP increased its stake in shares of 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 purchasing an additional 250,000 shares in the last quarter. Captrust Financial Advisors increased its stake in Wix.com by 545.7% during the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after buying an additional 201,532 shares in the last quarter. Renaissance Technologies LLC increased its stake in Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after buying an additional 171,500 shares in the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of 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 valued at $115,475,000 after acquiring an additional 165,810 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Wix.com in the second quarter worth approximately $13,646,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.