UBS Group Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its price target increased by UBS Group from $250.00 to $255.00 in a report published on Thursday,Benzinga reports. UBS Group currently has a buy rating on the information services provider’s stock.

WIX has been the subject of a number of other research reports. Barclays increased their price objective on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Piper Sandler increased their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.11.

Wix.com Stock Down 6.2 %

Shares of WIX stock opened at $203.65 on Thursday. The stock has a fifty day moving average of $226.63 and a 200 day moving average of $192.98. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 127.28, a PEG ratio of 2.54 and a beta of 1.58.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its position in Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after buying an additional 55 shares during the last quarter. Blue Trust Inc. raised its position in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after buying an additional 56 shares during the last quarter. Global Retirement Partners LLC raised its position in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after buying an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after buying an additional 63 shares during the last quarter. Finally, Vestcor Inc raised its position in Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after buying an additional 63 shares during the last quarter. 81.52% of the stock is currently owned by 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.