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

Wix.com (NASDAQ:WIX)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $245.00 price target on the information services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 17.47% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Benchmark upped their price target on Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI raised Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of Wix.com in a research note on Wednesday. Finally, StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.33.

Wix.com Stock Performance

Shares of WIX traded down $8.44 during mid-day trading on Thursday, hitting $208.56. 492,478 shares of the company were exchanged, compared to its average volume of 823,717. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 130.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company has a 50 day moving average of $227.05 and a 200-day moving average of $192.90. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11.

Institutional Investors Weigh In On Wix.com

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the period. Durable Capital Partners LP acquired a new stake in shares of Wix.com during the 4th quarter valued at approximately $89,839,000. SG Americas Securities LLC boosted its stake in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after acquiring an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after acquiring an additional 380,800 shares during the period. Finally, Senvest Management LLC boosted its stake in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after acquiring an additional 304,712 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.