Wix.com’s (WIX) Outperform Rating Reaffirmed at Royal Bank of Canada

Wix.com (NASDAQ:WIX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $245.00 target price on the information services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 17.47% from the company’s previous close.

WIX has been the subject of several other reports. Robert W. Baird raised their price objective on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, November 25th. Wells Fargo & Company began coverage on shares of Wix.com in a research note on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective for the company. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. UBS Group lifted their price target on shares of Wix.com from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Benchmark increased their price objective on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.33.

Wix.com Stock Down 3.9 %

WIX traded down $8.44 during midday trading on Thursday, reaching $208.56. The company had a trading volume of 492,478 shares, compared to its average volume of 823,717. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The company has a market cap of $11.43 billion, a P/E ratio of 130.37, a P/E/G ratio of 2.54 and a beta of 1.58. The business has a 50-day moving average of $227.05 and a two-hundred day moving average of $192.90.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WIX. Blue Trust Inc. raised its position in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Avior Wealth Management LLC boosted its holdings 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 purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Wix.com during the 4th quarter worth about $43,000. Finally, Global Retirement Partners LLC raised its stake in shares of Wix.com by 36.0% during the 4th 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 last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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.