Citigroup Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price target boosted by equities research analysts at Citigroup from $275.00 to $280.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup’s target price indicates a potential upside of 35.59% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wells Fargo & Company initiated coverage on Wix.com in a research report on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective for the company. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $248.00 to $276.00 in a research report on Monday, January 13th. JMP Securities restated a “market outperform” rating and set a $240.00 price objective on shares of Wix.com in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $245.00 price objective on shares of Wix.com in a research report on Thursday. Finally, Barclays raised their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.11.

Wix.com Stock Down 4.8 %

WIX stock traded down $10.50 during trading on Thursday, reaching $206.51. The company’s stock had a trading volume of 695,990 shares, compared to its average volume of 829,800. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The company has a market capitalization of $11.32 billion, a P/E ratio of 128.86, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company’s fifty day moving average is $227.05 and its 200-day moving average is $192.90.

Institutional Trading of Wix.com

Several institutional investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. lifted its stake in Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com during the fourth quarter valued at approximately $43,000. Finally, Global Retirement Partners LLC raised its stake in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. 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.