Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Bank of America Analyst Says

Wix.com (NASDAQ:WIX) had its price target hoisted by investment analysts at Bank of America from $190.00 to $228.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Bank of America‘s price target suggests a potential upside of 4.20% from the stock’s previous close.

WIX has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Wix.com in a research report on Wednesday. StockNews.com cut shares of Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. JMP Securities reissued a “market outperform” rating and set a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. KeyCorp began coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Finally, Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Performance

NASDAQ:WIX opened at $218.82 on Wednesday. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of 136.76, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47. Wix.com has a one year low of $95.65 and a one year high of $220.22. The business’s 50-day simple moving average is $168.22 and its 200 day simple moving average is $161.75.

Institutional Investors Weigh In On Wix.com

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised 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. increased its position in Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the period. CWM LLC raised its stake in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its position in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after acquiring an additional 488 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.