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

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

WIX has been the topic of several other reports. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America lifted their price objective on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JMP Securities reissued a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wix.com has an average rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Price Performance

WIX opened at $218.82 on Thursday. Wix.com has a 1-year low of $95.65 and a 1-year high of $220.22. The company has a 50 day simple moving average of $169.52 and a two-hundred day simple moving average of $162.14. The firm has a market cap of $12.00 billion, a P/E ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted 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 valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares during the period. Industrial Alliance Investment Management Inc. lifted its position in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. CWM LLC boosted its stake 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 during the period. Finally, Toronto Dominion Bank increased its position in Wix.com by 19.0% during 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 during 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.