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

Wix.com (NASDAQ:WIX) had its price target lifted by Cantor Fitzgerald from $260.00 to $270.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Several other research analysts also recently commented on WIX. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Barclays raised their price target on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company began coverage on Wix.com in a research report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price objective on the stock. B. Riley lifted their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research note on Wednesday. One research 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 company. Based on data from MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.83.

Wix.com Trading Down 2.7 %

NASDAQ 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 PEG ratio of 2.83 and a beta of 1.58. The business has a fifty day simple moving average of $226.20 and a 200 day simple moving average of $193.56. 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

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Wix.com by 518.3% during the fourth 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. Dorsal Capital Management LP boosted its position in Wix.com by 1.8% during the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock valued at $305,734,000 after acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC boosted its position in shares of Wix.com by 27.3% in the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Wix.com by 21.0% in the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock worth $201,151,000 after acquiring an additional 162,400 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other 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.