Barclays Raises Wix.com (NASDAQ:WIX) Price Target to $240.00

Wix.com (NASDAQ:WIX) had its price target raised by stock analysts at Barclays from $236.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target would suggest a potential upside of 16.04% from the stock’s previous close.

WIX has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 target price on shares of Wix.com in a research report on Wednesday. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Benchmark upped their target price on Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America boosted their price target on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target on shares of Wix.com in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.56.

Wix.com Stock Down 4.7 %

Shares of NASDAQ WIX traded down $10.17 on Thursday, hitting $206.83. The company had a trading volume of 609,919 shares, compared to its average volume of 828,111. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11. The business has a 50 day moving average of $227.05 and a two-hundred day moving average of $192.90. The firm has a market capitalization of $11.34 billion, a P/E ratio of 129.27, a PEG ratio of 2.54 and a beta of 1.58.

Hedge Funds Weigh In On Wix.com

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Wix.com during the fourth quarter valued at approximately $43,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Wix.com by 36.0% during the fourth 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 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.