Piper Sandler Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its price target boosted by Piper Sandler from $200.00 to $249.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Other equities analysts have also issued research reports about the stock. KeyCorp initiated coverage on shares of Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday, November 20th. UBS Group increased their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Stock Down 0.9 %

WIX opened at $217.20 on Thursday. Wix.com has a twelve month low of $95.65 and a twelve month high of $220.22. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 135.75, a P/E/G ratio of 4.21 and a beta of 1.47. The company has a 50-day simple moving average of $170.73 and a 200 day simple moving average of $163.10.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently modified their holdings of the business. Blue Trust Inc. grew its position in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Wix.com by 112.1% in 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 during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after acquiring an additional 488 shares during the period. CWM LLC grew its stake in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of 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 purchasing an additional 124 shares during the period. 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.