Wix.com (NASDAQ:WIX) Given New $228.00 Price Target at Bank of America

Wix.com (NASDAQ:WIX) had its price objective raised by Bank of America from $190.00 to $228.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

WIX has been the subject of several other reports. Benchmark upped their price objective on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Wix.com in a research note on Wednesday. KeyCorp began coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a research note on Monday, October 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $197.38.

Wix.com Trading Up 14.3 %

Shares of NASDAQ WIX opened at $210.27 on Wednesday. Wix.com has a 12 month low of $95.65 and a 12 month high of $213.86. The firm has a market capitalization of $11.53 billion, a PE ratio of 166.88, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47. The firm has a fifty day simple moving average of $167.07 and a two-hundred day simple moving average of $161.41.

Hedge Funds Weigh In On Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in shares of Wix.com by 98.0% in the third 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. CWM LLC raised its stake in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after acquiring an additional 101 shares during the period. Toronto Dominion Bank raised its stake in Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after acquiring an additional 124 shares during the period. Advisors Asset Management Inc. raised its stake in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares during the period. Finally, CIBC Asset Management Inc raised its stake in Wix.com by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

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.