Robert W. Baird Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its target price increased by investment analysts at Robert W. Baird from $175.00 to $215.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. Robert W. Baird’s price objective indicates a potential downside of 3.34% from the company’s previous close.

WIX has been the topic of a number of other reports. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday. Benchmark boosted their price target on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price objective on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. B. Riley upped 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, JPMorgan Chase & Co. upped their price objective on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.71.

Wix.com Stock Down 0.4 %

Shares of WIX opened at $222.44 on Monday. The business’s 50 day moving average price is $172.07 and its 200-day moving average price is $164.11. Wix.com has a 52 week low of $95.65 and a 52 week high of $224.33. The stock has a market cap of $12.19 billion, a P/E ratio of 139.81, a P/E/G ratio of 4.24 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently modified their holdings of WIX. Dorsal Capital Management LP increased its stake in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after purchasing an additional 201,532 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Wix.com in the 2nd quarter worth $13,646,000. 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.