Wix.com (NASDAQ:WIX) Given New $270.00 Price Target at Cantor Fitzgerald

Wix.com (NASDAQ:WIX) had its price objective boosted by Cantor Fitzgerald from $260.00 to $270.00 in a research note issued to investors on Thursday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $235.00 target price on shares of Wix.com in a research report on Wednesday. Bank of America lifted their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, Citigroup boosted their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.11.

Wix.com Price Performance

NASDAQ:WIX opened at $203.65 on Thursday. The firm’s 50 day simple moving average is $226.63 and its 200 day simple moving average is $192.98. Wix.com has a one year low of $117.58 and a one year high of $247.11. The company has a market cap of $11.16 billion, a PE ratio of 127.28, a P/E/G ratio of 2.54 and a beta of 1.58.

Institutional Trading of Wix.com

Several hedge funds have recently modified their holdings of WIX. Wellington Management Group LLP increased its stake in shares of Wix.com by 518.3% in the 4th 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 in the last quarter. Durable Capital Partners LP bought a new stake in Wix.com during the 4th quarter valued at $89,839,000. SG Americas Securities LLC increased its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in 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 in the last quarter. Finally, Senvest Management LLC increased its stake in 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 in 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.