Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Wix.com (NASDAQ:WIX) had its price objective boosted by research analysts at Cantor Fitzgerald from $260.00 to $270.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 28.39% from the stock’s current price.

WIX has been the subject of several other reports. Bank of America raised their target price on shares of Wix.com from $228.00 to $270.00 and gave the company a “buy” rating in a report on Wednesday. Benchmark upped their target price on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group raised their price target on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Robert W. Baird raised their price target on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.33.

Wix.com Stock Down 3.1 %

NASDAQ WIX traded down $6.71 during trading hours on Thursday, hitting $210.29. 211,599 shares of the stock were exchanged, compared to its average volume of 814,571. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11. The stock has a 50-day moving average of $227.05 and a 200 day moving average of $192.90. The company has a market cap of $11.53 billion, a price-to-earnings ratio of 130.85, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58.

Institutional Investors Weigh In On Wix.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted 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 during the last quarter. Durable Capital Partners LP purchased a new position in shares of Wix.com in the 4th quarter worth approximately $89,839,000. SG Americas Securities LLC raised its stake in shares of Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares during the period. Whale Rock Capital Management LLC grew its position in shares of Wix.com by 55.1% in the fourth 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 position in shares of 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 during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Company Profile

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.