Wix.com (NASDAQ:WIX) Price Target Raised to $250.00 at Benchmark

Wix.com (NASDAQ:WIX) had its target price upped by equities researchers at Benchmark from $225.00 to $250.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Benchmark’s target price suggests a potential upside of 14.57% from the company’s previous close.

Other analysts have also issued reports about the stock. Barclays increased their target price on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com cut Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Piper Sandler lifted their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, UBS Group lifted their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $207.94.

Wix.com Stock Performance

NASDAQ:WIX traded up $7.93 during midday trading on Thursday, reaching $218.20. 325,390 shares of the stock traded hands, compared to its average volume of 551,918. The stock has a market capitalization of $11.96 billion, a P/E ratio of 173.18, a PEG ratio of 3.91 and a beta of 1.47. The company has a fifty day moving average of $168.22 and a 200 day moving average of $161.75. Wix.com has a 12 month low of $95.65 and a 12 month high of $219.20.

Institutional Investors Weigh In On Wix.com

A number of institutional investors have recently modified their holdings of 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 buying an additional 98 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Wix.com by 112.1% during the 3rd 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. Industrial Alliance Investment Management Inc. increased its holdings in shares of Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares in the last quarter. CWM LLC raised its stake in shares of Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 124 shares in the last quarter. 81.52% of the stock is 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.