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

Wix.com (NASDAQ:WIX) had its target price lifted by Citigroup from $260.00 to $270.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Citigroup’s price target indicates a potential upside of 24.69% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. 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. Royal Bank of Canada boosted their price target on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Robert W. Baird lifted their price objective on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Finally, Barclays lifted their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $214.71.

Wix.com Trading Up 0.9 %

Shares of NASDAQ WIX opened at $216.53 on Friday. The company’s 50-day moving average price is $202.86 and its 200 day moving average price is $175.77. Wix.com has a 52 week low of $114.18 and a 52 week high of $229.79. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 135.33, a PEG ratio of 4.22 and a beta of 1.55.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WIX. Migdal Insurance & Financial Holdings Ltd. raised its position in Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of Wix.com in the third quarter valued at about $661,000. Dimensional Fund Advisors LP raised its holdings in shares of Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after buying an additional 7,070 shares during the period. BNP Paribas Financial Markets lifted its position in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after acquiring an additional 11,497 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd boosted its holdings in Wix.com by 26.2% in the 3rd quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after acquiring an additional 12,600 shares during the period. 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.