Wix.com (NASDAQ:WIX) Given New $260.00 Price Target at Jefferies Financial Group

Wix.com (NASDAQ:WIX) had its price target hoisted by equities researchers at Jefferies Financial Group from $225.00 to $260.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 14.81% from the company’s previous close.

A number of other equities analysts have also weighed in on WIX. Barclays upped their target price on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Wix.com in a research note on Wednesday, November 20th. Piper Sandler lifted their target price on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird increased their price target on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $220.59.

Wix.com Stock Performance

NASDAQ WIX traded up $3.72 on Monday, hitting $226.47. The stock had a trading volume of 310,590 shares, compared to its average volume of 438,315. The firm has a 50-day moving average of $204.03 and a 200-day moving average of $176.31. Wix.com has a 52-week low of $117.58 and a 52-week high of $229.79. The company has a market capitalization of $12.42 billion, a price-to-earnings ratio of 141.54, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Several institutional investors have recently added to or reduced their stakes in WIX. Dorsal Capital Management LP lifted its holdings in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after acquiring an additional 33,338 shares in the last quarter. Senvest Management LLC lifted its stake in Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after acquiring an additional 50,482 shares during the period. Renaissance Technologies LLC boosted its holdings in Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in Wix.com by 31.6% during the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after purchasing an additional 165,810 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.