Wix.com (NASDAQ:WIX) Price Target Raised to $270.00

Wix.com (NASDAQ:WIX) had its price objective boosted by Bank of America from $228.00 to $270.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

WIX has been the subject of several other reports. Wells Fargo & Company initiated coverage on shares of Wix.com in a research note on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective for the company. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Jefferies Financial Group upped their price objective on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Benchmark upped their price objective on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.33.

Wix.com Stock Down 4.7 %

NASDAQ WIX opened at $217.00 on Wednesday. The company has a 50-day simple moving average of $227.05 and a two-hundred day simple moving average of $192.90. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 135.63, a PEG ratio of 2.49 and a beta of 1.58.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently bought and sold shares of WIX. Blue Trust Inc. grew its holdings in shares of 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 buying an additional 98 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Wix.com during the fourth quarter valued at approximately $43,000. Finally, Global Retirement Partners LLC grew its holdings 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 buying an additional 58 shares during the last quarter. Hedge funds and other 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.