Wix.com (NASDAQ:WIX) Given New $260.00 Price Target at Benchmark

Wix.com (NASDAQ:WIX) had its price objective lifted by Benchmark from $250.00 to $260.00 in a report published on Thursday,Benzinga reports. Benchmark currently has a buy rating on the information services provider’s stock.

Several other analysts also recently commented on the stock. Bank of America raised their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Citigroup lifted their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday. One investment 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.com, Wix.com currently has an average rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Price Performance

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

Institutional Trading of Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in WIX. Wellington Management Group LLP boosted its holdings in Wix.com by 518.3% in 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 acquiring an additional 1,266,202 shares during the last quarter. Dorsal Capital Management LP lifted its stake 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 increased its position 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 purchasing an additional 304,712 shares during the last quarter. Whale Rock Capital Management LLC increased its position 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 purchasing an additional 380,800 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Wix.com by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock valued at $201,151,000 after purchasing an additional 162,400 shares during the last quarter. 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.