Piper Sandler Increases Wix.com (NASDAQ:WIX) Price Target to $262.00

Wix.com (NASDAQ:WIX) had its target price hoisted by research analysts at Piper Sandler from $249.00 to $262.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Piper Sandler’s target price suggests a potential upside of 32.25% from the company’s current price.

A number of other analysts also recently commented on the company. B. Riley increased their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays increased their price target on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company started coverage on Wix.com in a research report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 target price for the company. Bank of America raised their target price on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Raymond James raised Wix.com from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Stock Down 2.7 %

WIX stock opened at $198.11 on Friday. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11. The stock’s 50 day moving average is $226.20 and its 200-day moving average is $193.56. The firm has a market capitalization of $10.86 billion, a PE ratio of 84.30, a P/E/G ratio of 2.83 and a beta of 1.58.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Wix.com by 98.0% in 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 in the last quarter. Advisors Asset Management Inc. grew its position in shares of Wix.com by 112.1% during 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. Avior Wealth Management LLC grew its position in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com during the fourth quarter valued at about $43,000. Finally, Global Retirement Partners LLC grew its position in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. 81.52% of the stock is 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.