Barclays Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its target price raised by Barclays from $236.00 to $240.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

A number of other research analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price target on shares of Wix.com in a research report on Wednesday. Wells Fargo & Company began coverage on shares of Wix.com in a report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 target price on the stock. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. Finally, Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $245.83.

Wix.com Price Performance

Shares of WIX opened at $198.11 on Thursday. The firm’s 50 day simple moving average is $226.20 and its 200 day simple moving average is $193.56. The company has a market capitalization of $10.86 billion, a P/E ratio of 84.30, a P/E/G ratio of 2.83 and a beta of 1.58. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently made changes to their positions in WIX. Wellington Management Group LLP grew its stake in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the period. Durable Capital Partners LP bought a new position in shares of Wix.com during the 4th quarter valued at approximately $89,839,000. SG Americas Securities LLC grew its stake in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Whale Rock Capital Management LLC grew its stake 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 acquiring an additional 380,800 shares during the period. Finally, Senvest Management LLC grew its stake in shares of 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 acquiring 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.