Robert W. Baird Boosts Wix.com (NASDAQ:WIX) Price Target to $215.00

Wix.com (NASDAQ:WIX) had its target price upped by equities researchers at Robert W. Baird from $175.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. Robert W. Baird’s target price suggests a potential downside of 1.01% from the company’s previous close.

A number of other brokerages also recently issued reports on WIX. Barclays increased their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Bank of America increased their price objective on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Wix.com in a report on Wednesday, November 20th. UBS Group raised 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, Royal Bank of Canada raised their price target on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average price target of $210.71.

Wix.com Price Performance

NASDAQ:WIX opened at $217.20 on Monday. The company’s fifty day moving average price is $170.73 and its 200-day moving average price is $163.10. Wix.com has a 1-year low of $95.65 and a 1-year high of $220.22. The firm has a market capitalization of $11.91 billion, a P/E ratio of 135.75, a PEG ratio of 4.24 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Wix.com by 3.2% in the third 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 period. Public Employees Retirement System of Ohio purchased a new stake in shares of Wix.com during the 3rd quarter worth approximately $10,523,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of 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 increased its holdings in shares of 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 shares of Wix.com by 9.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock worth $3,389,000 after purchasing an additional 1,725 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.