Wix.com (WIX) PT Raised to $98.00 at SunTrust Banks
Wix.com (NASDAQ:WIX) had its target price raised by analysts at SunTrust Banks to $98.00 in a research note issued on Friday, The Fly reports. The firm currently has a “buy” rating on the information services provider’s stock. SunTrust Banks’ target price would indicate a potential upside of 11.43% from the stock’s current price.
Several other brokerages have also issued reports on WIX. Needham & Company LLC increased their target price on Wix.com to $98.00 and gave the stock a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Barclays reissued a “buy” rating and issued a $87.00 target price on shares of Wix.com in a research report on Friday, May 11th. Oppenheimer increased their target price on Wix.com from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, May 10th. Raymond James lowered Wix.com from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, May 10th. Finally, KeyCorp set a $103.00 target price on Wix.com and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $87.62.
Wix.com opened at $87.95 on Friday, according to Marketbeat Ratings. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -87.95 and a beta of 1.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.94 and a quick ratio of 0.94. Wix.com has a one year low of $81.65 and a one year high of $85.05.
A number of hedge funds have recently bought and sold shares of WIX. ARK Investment Management LLC bought a new position in Wix.com during the 4th quarter valued at approximately $215,000. M&T Bank Corp bought a new position in Wix.com during the 1st quarter valued at approximately $222,000. Parametrica Management Ltd bought a new position in Wix.com during the 4th quarter valued at approximately $246,000. Comerica Bank bought a new position in Wix.com during the 1st quarter valued at approximately $277,000. Finally, Teza Capital Management LLC bought a new position in Wix.com during the 1st quarter valued at approximately $301,000. 79.68% of the stock is owned by institutional investors.
Wix.com Company Profile
Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.
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