Wix.com (NASDAQ:WIX) Given New $280.00 Price Target at Citigroup

Wix.com (NASDAQ:WIX) had its target price upped by Citigroup from $275.00 to $280.00 in a research report released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

A number of other brokerages also recently commented on WIX. 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 for the company. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Piper Sandler lifted their target price on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Jefferies Financial Group boosted 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $235.00 price target on shares of Wix.com in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.83.

Wix.com Stock Performance

Wix.com stock opened at $198.11 on Thursday. The stock has a fifty day moving average of $226.20 and a two-hundred day moving average of $193.56. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 84.30, a PEG ratio of 2.83 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

Several institutional investors have recently added to or reduced their stakes in WIX. Wellington Management Group LLP increased 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 worth $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of Wix.com during the 4th quarter worth about $89,839,000. SG Americas Securities LLC increased 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 worth $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Whale Rock Capital Management LLC increased 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 worth $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Finally, Senvest Management LLC increased 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 worth $305,260,000 after purchasing an additional 304,712 shares during the last quarter. 81.52% of the stock is owned by 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.