Wix.com (NASDAQ:WIX) Upgraded at Piper Sandler

Wix.com (NASDAQ:WIX) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday, Benzinga reports. The firm currently has a $200.00 target price on the information services provider’s stock, up from their previous target price of $184.00. Piper Sandler’s price objective suggests a potential upside of 24.50% from the company’s previous close.

WIX has been the subject of several other research reports. Cantor Fitzgerald started coverage on shares of Wix.com in a report on Thursday, September 5th. They issued an “overweight” rating and a $200.00 price target for the company. UBS Group boosted their price target on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on Wix.com from $148.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 29th. Benchmark lifted their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.19.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $160.64 on Monday. Wix.com has a 52-week low of $76.90 and a 52-week high of $178.65. The firm has a market capitalization of $9.18 billion, a price-to-earnings ratio of 140.91, a PEG ratio of 3.47 and a beta of 1.47. The stock has a 50 day moving average price of $160.48 and a 200 day moving average price of $150.37.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. Analysts forecast that Wix.com will post 2.01 earnings per share for the current year.

Institutional Trading of Wix.com

Several institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC boosted its stake in Wix.com by 416.5% during the first quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock worth $11,061,000 after buying an additional 64,878 shares during the last quarter. Norges Bank purchased a new position in Wix.com during the fourth quarter worth about $34,554,000. Crescent Park Management L.P. increased its position in shares of Wix.com by 16.5% during the fourth quarter. Crescent Park Management L.P. now owns 106,886 shares of the information services provider’s stock valued at $13,149,000 after acquiring an additional 15,131 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Wix.com by 36.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after acquiring an additional 8,422 shares during the period. Finally, APG Asset Management US Inc. purchased a new stake in Wix.com during the fourth quarter worth about $1,336,000. 81.52% of the stock is owned by institutional investors and hedge funds.

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.