Barclays Increases Wix.com (NASDAQ:WIX) Price Target to $236.00

Wix.com (NASDAQ:WIX) had its price objective lifted by investment analysts at Barclays from $184.00 to $236.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target would indicate a potential upside of 7.85% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Bank of America increased their price objective on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday. KeyCorp initiated coverage on Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Benchmark raised their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $218.82 on Wednesday. The company 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 company has a 50 day simple moving average of $168.22 and a 200-day simple moving average of $161.75. Wix.com has a 1 year low of $95.65 and a 1 year high of $220.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after purchasing an additional 201,532 shares during the period. Renaissance Technologies LLC lifted its position in shares of Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after buying an additional 171,500 shares during the last quarter. Whale Rock Capital Management LLC boosted its holdings in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Wix.com during the 2nd quarter valued at about $13,646,000. 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.