Citigroup Boosts Wix.com (NASDAQ:WIX) Price Target to $202.00

Wix.com (NASDAQ:WIX - Get Free Report) had its price objective upped by research analysts at Citigroup from $175.00 to $202.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the information services provider's stock. Citigroup's price target would indicate a potential upside of 16.76% from the company's previous close.

WIX has been the topic of a number of other research reports. UBS Group upped their target price on shares of Wix.com from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday. Benchmark upped their price objective on Wix.com from $175.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on Wix.com from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price target on shares of Wix.com in a report on Monday. Finally, Barclays raised their price objective on Wix.com from $160.00 to $184.00 and gave the stock an "overweight" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Wix.com has a consensus rating of "Moderate Buy" and an average price target of $170.81.

Wix.com Price Performance

Shares of NASDAQ WIX traded up $4.98 on Tuesday, hitting $173.00. The company's stock had a trading volume of 1,830,013 shares, compared to its average volume of 619,829. The stock has a 50 day moving average of $131.64 and a 200-day moving average of $123.28. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 314.55, a price-to-earnings-growth ratio of 4.67 and a beta of 1.34. Wix.com has a 12-month low of $73.39 and a 12-month high of $174.09.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The firm had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. Wix.com's revenue was up 13.7% compared to the same quarter last year. Sell-side analysts expect that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Trading of Wix.com

A number of institutional investors have recently bought and sold shares of WIX. Migdal Insurance & Financial Holdings Ltd. raised its stake in Wix.com by 6.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider's stock valued at $32,851,000 after purchasing an additional 15,000 shares in the last quarter. Senvest Management LLC lifted its holdings in shares of Wix.com by 27.4% during the 4th quarter. Senvest Management LLC now owns 772,191 shares of the information services provider's stock worth $94,995,000 after acquiring an additional 166,254 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Wix.com by 112.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider's stock worth $4,446,000 after acquiring an additional 25,600 shares in the last quarter. Nordea Investment Management AB increased its stake in Wix.com by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider's stock valued at $472,000 after acquiring an additional 450 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Wix.com by 208.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,176 shares of the information services provider's stock valued at $5,312,000 after purchasing an additional 29,194 shares in the last quarter. Institutional investors own 81.52% of the company's stock.

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.