Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Wix.com (NASDAQ:WIX) had its price objective hoisted by Piper Sandler from $249.00 to $262.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Several other brokerages have also recently issued reports on WIX. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Citigroup boosted their price target on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $235.00 target price on shares of Wix.com in a research note on Wednesday. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Price Performance

Shares of Wix.com stock opened at $198.11 on Friday. The stock has a market cap of $10.86 billion, a PE ratio of 84.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58. The firm has a fifty day moving average price of $226.20 and a 200 day moving average price of $193.31. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. lifted its stake in shares of Wix.com by 9.9% in the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after buying an additional 55 shares in the last quarter. Blue Trust Inc. raised its holdings in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after acquiring an additional 56 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after purchasing an additional 63 shares during the last quarter. Finally, Vestcor Inc grew its position in shares of Wix.com by 8.0% in the fourth quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock valued at $183,000 after purchasing an additional 63 shares in the last quarter. 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.