Wix.com (NASDAQ:WIX) Price Target Raised to $270.00

Wix.com (NASDAQ:WIX) had its price target upped by Citigroup from $260.00 to $270.00 in a research report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday, November 20th. Benchmark upped their target price on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird raised their price target on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Bank of America lifted their price target on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.71.

Wix.com Trading Up 2.9 %

Shares of WIX stock opened at $222.75 on Friday. Wix.com has a twelve month low of $116.27 and a twelve month high of $229.79. The company has a market capitalization of $12.21 billion, a PE ratio of 139.22, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56. The firm has a fifty day simple moving average of $204.03 and a 200-day simple moving average of $176.31.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares during the period. Toth Financial Advisory Corp acquired a new stake in Wix.com in the 3rd quarter valued at approximately $661,000. Dimensional Fund Advisors LP raised its stake in Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after acquiring an additional 7,070 shares in the last quarter. BNP Paribas Financial Markets boosted its position in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after acquiring an additional 11,497 shares during the period. Finally, Lakehouse Capital Pty Ltd grew its stake in shares of Wix.com by 26.2% in the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after purchasing an additional 12,600 shares in 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.