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

Wix.com (NASDAQ:WIX) had its price target boosted by Citigroup from $260.00 to $270.00 in a report issued on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the information services provider’s stock.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday, November 20th. B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Piper Sandler raised their price objective on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Bank of America upped their target price on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price target on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $214.71.

Wix.com Stock Performance

Shares of WIX stock opened at $222.75 on Friday. The stock has a fifty day moving average price of $204.03 and a 200 day moving average price of $176.20. The stock has a market cap of $12.21 billion, a PE ratio of 139.22, a P/E/G ratio of 4.22 and a beta of 1.55. Wix.com has a 1 year low of $116.27 and a 1 year high of $229.79.

Institutional Trading of Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in 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 acquiring an additional 98 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 130 shares in the last quarter. CWM LLC grew its holdings in shares of Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC increased its position in Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock worth $116,000 after purchasing an additional 491 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.