Barclays Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price target raised by equities researchers at Barclays from $236.00 to $240.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. Barclays‘s target price would indicate a potential upside of 16.04% from the stock’s previous close.

Several other brokerages have also issued reports on WIX. Royal Bank of Canada reiterated an “outperform” rating and set a $245.00 price objective on shares of Wix.com in a report on Thursday. Jefferies Financial Group increased their price objective on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, January 6th. UBS Group increased their price objective on Wix.com from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald increased their price objective on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company began coverage on shares of Wix.com in a research report on Monday, February 3rd. They set an “underweight” rating and a $208.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus price target of $244.56.

Wix.com Stock Down 4.7 %

Shares of WIX traded down $10.17 during mid-day trading on Thursday, reaching $206.83. The company’s stock had a trading volume of 609,919 shares, compared to its average volume of 828,111. The business has a fifty day moving average of $227.05 and a 200 day moving average of $192.90. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 129.27, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JT Stratford LLC bought a new stake in Wix.com during the 4th quarter worth about $218,000. USS Investment Management Ltd increased its stake in shares of Wix.com by 12.5% during the 4th quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider’s stock worth $2,232,000 after purchasing an additional 1,157 shares during the last quarter. Voloridge Investment Management LLC increased its stake in shares of Wix.com by 15.7% during the 4th quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider’s stock worth $81,724,000 after purchasing an additional 51,581 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in shares of Wix.com by 68.0% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider’s stock worth $22,782,000 after purchasing an additional 42,969 shares during the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in shares of Wix.com by 55.1% during 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 purchasing an additional 380,800 shares during the last quarter. 81.52% of the stock is owned by 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.