Royal Bank of Canada Increases Wix.com (NASDAQ:WIX) Price Target to $245.00

Wix.com (NASDAQ:WIX) had its target price raised by Royal Bank of Canada from $190.00 to $245.00 in a research report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

A number of other equities research analysts have also recently issued reports on WIX. Cantor Fitzgerald upped their target price on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler upped their price objective on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays raised their target price on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group boosted their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price target on shares of Wix.com in a research report on Wednesday. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $218.82 on Thursday. The stock has a market capitalization of $12.00 billion, a P/E ratio of 136.76, a P/E/G ratio of 3.91 and a beta of 1.47. The business has a 50-day moving average of $169.52 and a two-hundred day moving average of $162.14. Wix.com has a fifty-two week low of $95.65 and a fifty-two week high of $220.22.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 98 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after buying an additional 130 shares during the period. CWM LLC boosted its stake in Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after buying an additional 101 shares in the last quarter. Industrial Alliance Investment Management Inc. grew its position in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares during the period. Finally, Toronto Dominion Bank raised its stake in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after acquiring an additional 124 shares in 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.