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

Wix.com (NASDAQ:WIX) had its price target increased by investment analysts at B. Riley from $190.00 to $220.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. B. Riley’s price target suggests a potential upside of 1.29% from the company’s previous close.

Other research analysts also recently issued reports about the company. 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 report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday. Cantor Fitzgerald boosted their price objective on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. JMP Securities restated a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a report on Thursday, July 25th. Finally, UBS Group boosted their target price on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $217.20 on Thursday. The company has a market cap of $11.91 billion, a PE ratio of 136.76, a P/E/G ratio of 3.91 and a beta of 1.47. The firm’s 50 day moving average price is $169.52 and its 200-day moving average price is $162.14. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently bought and sold shares of WIX. iA Global Asset Management Inc. raised its position in shares of Wix.com by 176.5% during the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after purchasing an additional 10,427 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 worth $44,055,000 after buying an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp bought a new stake in Wix.com during the third quarter valued at about $661,000. Quadrature Capital Ltd lifted its position in shares of Wix.com by 65.1% in 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 in the last quarter. Finally, Tidal Investments LLC purchased a new position in shares of Wix.com in the first quarter valued at about $5,197,000. Hedge funds and other 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.