Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Wix.com (NASDAQ:WIX) had its price target hoisted by JPMorgan Chase & Co. from $195.00 to $205.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 6.32% from the company’s previous close.

WIX has been the subject of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a research note on Monday, October 7th. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $184.00 to $200.00 in a research report on Monday, September 23rd. UBS Group raised their target price on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Wix.com in a research note on Wednesday. Finally, StockNews.com cut Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Up 4.1 %

NASDAQ:WIX opened at $218.82 on Wednesday. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The stock’s fifty day simple moving average is $168.22 and its 200-day simple moving average is $161.75. The firm 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.

Institutional Investors Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. grew its position in Wix.com by 176.5% in the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 10,427 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after buying an additional 49,500 shares during the last quarter. Toth Financial Advisory Corp acquired a new position in Wix.com in the 3rd quarter valued at approximately $661,000. Quadrature Capital Ltd raised its stake in shares of Wix.com by 65.1% during the first quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock valued at $3,095,000 after acquiring an additional 8,879 shares during the last quarter. Finally, Tidal Investments LLC bought a new position in shares of Wix.com during the first quarter valued at $5,197,000. 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.