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

Wix.com (NASDAQ:WIX) had its price target boosted by Piper Sandler from $200.00 to $249.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 14.64% from the company’s current price.

Other analysts have also recently issued reports about the company. Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research report on Wednesday. Bank of America lifted their target price on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of Wix.com in a research report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Trading Down 0.9 %

Shares of WIX opened at $217.20 on Thursday. The stock’s 50-day moving average price is $169.52 and its two-hundred day moving average price is $162.14. Wix.com has a 12 month low of $95.65 and a 12 month high of $220.22. The company has a market capitalization of $11.91 billion, a PE ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 130 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its position in shares of 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 buying an additional 488 shares during the last quarter. CWM LLC grew its holdings in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after buying an additional 101 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

About Wix.com

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.