Wix.Com (WIX) PT Raised to $90.00 at Needham & Company LLC
Wix.Com (NASDAQ:WIX) had its price objective hoisted by equities researchers at Needham & Company LLC from $70.00 to $90.00 in a note issued to investors on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the information services provider’s stock. Needham & Company LLC’s target price points to a potential upside of 19.05% from the company’s current price.
A number of other research firms have also recently weighed in on WIX. BidaskClub upgraded shares of Wix.Com from a “hold” rating to a “buy” rating in a report on Thursday. Barclays restated an “overweight” rating and issued a $80.00 price target on shares of Wix.Com in a report on Thursday. Zacks Investment Research restated a “sell” rating on shares of Wix.Com in a report on Saturday, February 10th. SunTrust Banks restated a “buy” rating and issued a $71.00 price target on shares of Wix.Com in a report on Tuesday. Finally, KeyCorp set a $85.00 price target on shares of Wix.Com and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Wix.Com presently has an average rating of “Buy” and an average target price of $79.93.
Shares of Wix.Com (NASDAQ:WIX) traded up $1.00 during trading on Thursday, reaching $75.60. 952,604 shares of the company’s stock traded hands, compared to its average volume of 691,212. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Wix.Com has a one year low of $50.90 and a one year high of $86.15. The company has a market cap of $3,440.00, a PE ratio of -59.53 and a beta of 2.15.
Several institutional investors have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA raised its position in shares of Wix.Com by 10.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 58,604 shares of the information services provider’s stock valued at $3,376,000 after purchasing an additional 5,379 shares during the last quarter. Meitav Dash Investments Ltd. purchased a new position in shares of Wix.Com in the 4th quarter valued at approximately $11,880,000. Macquarie Group Ltd. raised its position in shares of Wix.Com by 37.2% in the 4th quarter. Macquarie Group Ltd. now owns 267,184 shares of the information services provider’s stock valued at $15,376,000 after purchasing an additional 72,487 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Wix.Com in the 4th quarter valued at approximately $714,000. Finally, Franklin Resources Inc. purchased a new position in shares of Wix.Com in the 4th quarter valued at approximately $32,194,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
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