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

Wix.com (NASDAQ:WIX) had its price target increased by research analysts 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 points to a potential upside of 28.72% from the company’s previous close.

A number of other research firms have also issued reports on WIX. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 target price on shares of Wix.com in a report on Wednesday. Royal Bank of Canada raised their target price on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wells Fargo & Company started coverage on Wix.com in a research report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price objective for the company. Jefferies Financial Group raised their price objective on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Stock Down 2.7 %

WIX opened at $198.11 on Thursday. The firm has a market capitalization 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. The stock’s 50 day moving average price is $226.20 and its two-hundred day moving average price is $193.31. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. increased its holdings in Wix.com by 9.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after purchasing an additional 55 shares in the last quarter. Blue Trust Inc. increased its holdings in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares in the last quarter. Global Retirement Partners LLC increased 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 valued at $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after purchasing an additional 63 shares in the last quarter. Finally, Vestcor Inc increased its holdings in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after purchasing an additional 63 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.