Wix.com (NASDAQ:WIX) Price Target Raised to $270.00

Wix.com (NASDAQ:WIX) had its price target hoisted by Bank of America from $228.00 to $270.00 in a research report report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the information services provider’s stock.

A number of other research firms have also commented on WIX. Needham & Company LLC reiterated a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a research note on Wednesday. Benchmark lifted their price objective on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price objective on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Cantor Fitzgerald lifted their price objective on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company initiated coverage on Wix.com in a research note on Monday, February 3rd. They set an “underweight” rating and a $208.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Price Performance

NASDAQ WIX opened at $198.11 on Wednesday. The stock’s 50-day moving average is $226.20 and its two-hundred day moving average is $193.31. The firm has a market cap of $10.86 billion, a P/E ratio of 84.30, a price-to-earnings-growth ratio of 2.42 and a beta of 1.58. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the 4th quarter worth $43,000. Avior Wealth Management LLC lifted its holdings in Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after buying an additional 89 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after buying an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Wix.com during the 4th quarter worth $52,000. 81.52% of the stock is owned by institutional investors and hedge funds.

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.