Wix.com (NASDAQ:WIX) Given New $245.00 Price Target at Royal Bank of Canada

Wix.com (NASDAQ:WIX) had its price objective raised by Royal Bank of Canada from $190.00 to $245.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the information services provider’s stock.

A number of other research firms also recently commented on WIX. Bank of America boosted their target price on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald upped their price target on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp initiated coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating for the company. JMP Securities restated a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a report on Thursday, July 25th. Finally, Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Up 4.1 %

NASDAQ:WIX opened at $218.82 on Thursday. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22. The firm has a market cap of $12.00 billion, a P/E ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47. The business’s 50-day moving average price is $169.52 and its 200 day moving average price is $162.14.

Hedge Funds Weigh In On Wix.com

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