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

Wix.com (NASDAQ:WIX) had its price target raised by investment analysts at Benchmark from $225.00 to $250.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective indicates a potential upside of 14.57% from the company’s current price.

WIX has been the topic of a number of other research reports. Barclays increased their target price on Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday. Cantor Fitzgerald raised their price objective on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. Bank of America upped their target price on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group lifted their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $207.94.

Wix.com Stock Up 3.8 %

WIX traded up $7.93 during mid-day trading on Thursday, reaching $218.20. 325,390 shares of the company traded hands, compared to its average volume of 551,918. The company’s fifty day moving average price is $168.22 and its 200-day moving average price is $161.75. The stock has a market capitalization of $11.96 billion, a P/E ratio of 173.18, a P/E/G ratio of 3.91 and a beta of 1.47. Wix.com has a 52-week low of $95.65 and a 52-week high of $219.20.

Institutional Trading of Wix.com

Large investors have recently added to or reduced their stakes in the company. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares during the last quarter. Clearbridge Investments LLC increased its stake in Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares during the last quarter. Senvest Management LLC increased its stake in Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares during the last quarter. Finally, Whale Rock Capital Management LLC boosted its holdings in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares during the period. 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.