Citigroup Increases Wix.com (NASDAQ:WIX) Price Target to $280.00

Wix.com (NASDAQ:WIX) had its price target raised by Citigroup from $275.00 to $280.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other brokerages also recently weighed in on WIX. B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $235.00 price target on shares of Wix.com in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research note on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $245.11.

Wix.com Trading Down 6.2 %

Shares of Wix.com stock opened at $203.65 on Thursday. The company has a 50 day moving average of $226.63 and a 200-day moving average of $192.98. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11. The company has a market cap of $11.16 billion, a PE ratio of 127.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58.

Hedge Funds Weigh In On Wix.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. increased its position in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after acquiring an additional 49,500 shares during the period. BNP Paribas Financial Markets increased its position in shares of Wix.com by 60.8% during the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com during the fourth quarter worth $256,000. Cumberland Partners Ltd increased its position in shares of Wix.com by 18.8% during the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock worth $3,176,000 after buying an additional 3,000 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Wix.com during the third quarter worth $461,000. 81.52% of the stock is currently 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.