Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Bank of America Analyst Says

Wix.com (NASDAQ:WIX) had its target price hoisted by Bank of America from $190.00 to $228.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other research firms also recently commented on WIX. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a report on Monday, October 7th. Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $184.00 to $200.00 in a report on Monday, September 23rd. KeyCorp began coverage on shares of Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $180.00 price target on shares of Wix.com in a research note on Thursday, July 25th. Finally, Barclays decreased their price target on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.38.

Wix.com Stock Performance

WIX stock opened at $210.27 on Wednesday. Wix.com has a one year low of $95.65 and a one year high of $213.86. The company’s fifty day moving average price is $167.07 and its 200-day moving average price is $161.41. The company has a market capitalization of $11.53 billion, a PE ratio of 166.88, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47.

Institutional Trading of Wix.com

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Wix.com in the 3rd quarter valued at $10,523,000. Nomura Asset Management Co. Ltd. grew its stake in Wix.com by 1.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider’s stock valued at $2,454,000 after acquiring an additional 170 shares during the period. XTX Topco Ltd grew its stake in Wix.com by 348.6% in the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after acquiring an additional 6,919 shares during the period. Finally, iA Global Asset Management Inc. grew its stake in Wix.com by 9.3% in the 3rd quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock valued at $3,389,000 after acquiring an additional 1,725 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.