Benchmark Increases Wix.com (NASDAQ:WIX) Price Target to $250.00

Wix.com (NASDAQ:WIX) had its price target increased by equities researchers at Benchmark from $225.00 to $250.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Benchmark’s price objective indicates a potential upside of 15.10% from the stock’s previous close.

Other analysts have also issued research reports about the company. Piper Sandler increased their price objective on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research note on Thursday. Cantor Fitzgerald lifted their price target on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. KeyCorp started coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating for the company. Finally, StockNews.com lowered Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Four research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Price Performance

Shares of WIX opened at $217.20 on Thursday. Wix.com has a 1-year low of $95.65 and a 1-year high of $220.22. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 136.76, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47. The firm has a 50 day simple moving average of $169.52 and a 200-day simple moving average of $162.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock worth $76,848,000 after acquiring an additional 14,340 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Wix.com during the 3rd quarter worth $10,523,000. Nomura Asset Management Co. Ltd. increased its holdings in Wix.com by 1.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider’s stock valued at $2,454,000 after purchasing an additional 170 shares in the last quarter. XTX Topco Ltd raised its position in Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after purchasing an additional 6,919 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in shares of Wix.com by 9.3% during the third quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock worth $3,389,000 after purchasing an additional 1,725 shares in the last quarter. 81.52% of the stock is 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.