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

Wix.com (NASDAQ:WIX) had its target price hoisted by equities researchers at Bank of America from $228.00 to $270.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Bank of America‘s price objective indicates a potential upside of 32.58% from the stock’s previous close.

A number of other analysts have also recently weighed in on WIX. Piper Sandler upped their price target on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $248.00 to $276.00 in a research report on Monday, January 13th. Royal Bank of Canada upped their price target on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Benchmark boosted their price objective on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.11.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $203.65 on Wednesday. The business’s fifty day moving average price is $226.63 and its two-hundred day moving average price is $192.98. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 127.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake in Wix.com by 98.0% in 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 period. Newbridge Financial Services Group Inc. acquired a new position in Wix.com in the fourth quarter valued at about $43,000. Avior Wealth Management LLC lifted its stake in Wix.com by 79.5% in 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 period. Global Retirement Partners LLC lifted its stake in Wix.com by 36.0% in 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 period. Finally, SBI Securities Co. Ltd. acquired a new position in Wix.com in the fourth quarter valued at about $52,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Company Profile

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.