Citigroup Boosts Wix.com (NASDAQ:WIX) Price Target to $280.00

Wix.com (NASDAQ:WIX) had its target price raised by analysts at Citigroup from $275.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Citigroup’s price objective indicates a potential upside of 35.59% from the stock’s current price.

Several other equities analysts have also issued reports on WIX. JMP Securities reissued a “market outperform” rating and set a $240.00 price objective on shares of Wix.com in a report on Tuesday. Bank of America lifted their price objective on shares of Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. 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 report on Monday, November 25th. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Finally, Cantor Fitzgerald lifted their price objective on shares of Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday. 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 assigned a strong buy rating to the stock. According to MarketBeat, Wix.com has an average rating of “Moderate Buy” and a consensus target price of $245.11.

Wix.com Trading Down 4.8 %

Shares of Wix.com stock traded down $10.50 on Thursday, hitting $206.51. 695,990 shares of the company traded hands, compared to its average volume of 829,800. The stock’s 50 day moving average price is $227.05 and its 200-day moving average price is $192.90. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11. The company has a market cap of $11.32 billion, a PE ratio of 128.86, a PEG ratio of 2.54 and a beta of 1.58.

Institutional Investors Weigh In On Wix.com

Large 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 buying 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 buying 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 buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com during the fourth quarter valued at $43,000. Finally, Global Retirement Partners LLC lifted its position in 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 period. 81.52% of the stock is owned by hedge funds and other 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.