Wix.com (NASDAQ:WIX) Price Target Raised to $260.00

Wix.com (NASDAQ:WIX) had its price target lifted by Jefferies Financial Group from $225.00 to $260.00 in a research report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other brokerages also recently weighed in on WIX. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Benchmark upped their price target on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada lifted their target price on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird lifted their price objective on shares of Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Four 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 target price of $220.59.

Wix.com Stock Performance

WIX opened at $224.49 on Monday. Wix.com has a 52-week low of $117.58 and a 52-week high of $229.79. The business’s 50-day simple moving average is $206.30 and its 200 day simple moving average is $177.35. The firm has a market capitalization of $12.31 billion, a PE ratio of 140.31, a PEG ratio of 4.22 and a beta of 1.56.

Hedge Funds Weigh In On Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. purchased a new position in shares of Wix.com in the fourth quarter valued at about $211,000. CWA Asset Management Group LLC purchased a new position in Wix.com during the 4th quarter valued at about $1,042,000. GAMMA Investing LLC raised its position in Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 491 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Wix.com by 8.9% in the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider’s stock worth $7,673,000 after buying an additional 3,864 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Wix.com by 3.4% in the 3rd quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider’s stock worth $5,792,000 after buying an additional 1,127 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

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.