Wix.com (NASDAQ:WIX) Price Target Raised to $260.00 at Benchmark

Wix.com (NASDAQ:WIX) had its price objective boosted by Benchmark from $250.00 to $260.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other equities research analysts also recently weighed in on WIX. Jefferies Financial Group raised their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company started coverage on Wix.com in a research report on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective on the stock. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $248.00 to $276.00 in a research report on Monday, January 13th. B. Riley raised their price objective on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Citigroup raised their price objective on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.11.

Wix.com Price Performance

Shares of WIX stock opened at $203.65 on Thursday. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11. The stock’s 50-day moving average is $226.63 and its 200 day moving average is $192.98. The company has a market cap of $11.16 billion, a P/E ratio of 127.28, a PEG ratio of 2.54 and a beta of 1.58.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after purchasing an additional 49,500 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after purchasing an additional 11,497 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Wix.com in the fourth quarter worth about $256,000. Cumberland Partners Ltd raised its stake in shares of Wix.com by 18.8% in the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock worth $3,176,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Wix.com during the third quarter valued at approximately $461,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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.