Benchmark Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price target boosted by equities research analysts at Benchmark from $250.00 to $260.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Benchmark’s target price would indicate a potential upside of 22.43% from the company’s current price.

Several other analysts also recently issued reports on the company. B. Riley boosted their price objective on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a report on Tuesday. Barclays upped their price target on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their target price on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.89.

Wix.com Price Performance

NASDAQ WIX opened at $212.37 on Thursday. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a market capitalization of $11.64 billion, a PE ratio of 132.21, a P/E/G ratio of 2.54 and a beta of 1.58. The company’s 50 day simple moving average is $227.05 and its 200 day simple moving average is $192.90.

Institutional Investors Weigh In On Wix.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Blue Trust Inc. grew its position in shares of Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the fourth quarter worth about $43,000. Avior Wealth Management LLC increased its position in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after buying an additional 89 shares during the last quarter. Global Retirement Partners LLC raised its stake in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Wix.com in the fourth quarter valued at approximately $52,000. 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.