Piper Sandler Boosts Wix.com (NASDAQ:WIX) Price Target to $249.00

Wix.com (NASDAQ:WIX) had its price objective lifted by Piper Sandler from $200.00 to $249.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

Several other research firms also recently weighed in on WIX. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Benchmark lifted their price objective on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp began coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Wix.com in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Performance

Shares of WIX stock opened at $218.82 on Thursday. The stock has a 50 day moving average price of $169.52 and a 200 day moving average price of $162.14. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22. The firm has a market capitalization of $12.00 billion, a P/E ratio of 136.76, a P/E/G ratio of 3.91 and a beta of 1.47.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Blue Trust Inc. lifted its position in shares of Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after buying an additional 98 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares during the last quarter. CWM LLC lifted its position in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other 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.