Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Wix.com (NASDAQ:WIX) had its price target hoisted by Cantor Fitzgerald from $200.00 to $240.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 10.50% from the company’s current price.

A number of other research firms have also issued reports on WIX. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and set a $200.00 target price on shares of Wix.com in a research note on Wednesday. Bank of America lifted their price target on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Down 0.9 %

Shares of Wix.com stock opened at $217.20 on Thursday. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The stock has a 50 day moving average price of $169.52 and a two-hundred day moving average price of $162.14. The stock has a market capitalization of $11.91 billion, a P/E ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Dorsal Capital Management LP grew its stake 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 purchasing an additional 250,000 shares during the period. Clearbridge Investments LLC boosted its stake in Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after buying an additional 33,338 shares in the last quarter. Senvest Management LLC boosted its stake in Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after buying an additional 50,482 shares in the last quarter. Renaissance Technologies LLC grew its position in Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares during the period. Finally, Whale Rock Capital Management LLC raised its stake in Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 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.