Cantor Fitzgerald Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its price target increased by research analysts at Cantor Fitzgerald from $260.00 to $270.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 28.39% from the stock’s current price.

WIX has been the topic of a number of other reports. Barclays boosted their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Citigroup increased their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company started coverage on Wix.com in a research note on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price objective for the company. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.33.

Wix.com Stock Down 3.1 %

Shares of NASDAQ WIX traded down $6.71 during midday trading on Thursday, reaching $210.29. 211,599 shares of the stock were exchanged, compared to its average volume of 814,571. The firm has a 50-day simple moving average of $227.05 and a two-hundred day simple moving average of $192.90. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 130.85, a PEG ratio of 2.54 and a beta of 1.58. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently modified their holdings of the company. JT Stratford LLC purchased a new stake in shares of Wix.com during the fourth quarter worth about $218,000. USS Investment Management Ltd increased its holdings in 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 boosted 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 valued at $81,724,000 after buying an additional 51,581 shares during the last quarter. Worldquant Millennium Advisors LLC grew its position in shares of Wix.com by 68.0% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider’s stock worth $22,782,000 after buying an additional 42,969 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its stake in shares of Wix.com by 55.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after buying an additional 380,800 shares during the last quarter. 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.