Wix.com (NASDAQ:WIX) Given New $262.00 Price Target at Piper Sandler

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

Several other research firms have also recently issued reports on WIX. UBS Group boosted their price objective on shares of Wix.com from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday. 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. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Bank of America upped their target price on Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Robert W. Baird increased their price target on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.83.

Wix.com Trading Down 2.7 %

NASDAQ:WIX opened at $198.11 on Friday. The stock has a fifty day simple moving average of $226.20 and a 200-day simple moving average of $193.31. The company has a market cap of $10.86 billion, a price-to-earnings ratio of 84.30, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after purchasing an additional 1,266,202 shares in the last quarter. Durable Capital Partners LP purchased a new stake in shares of Wix.com during the fourth quarter valued at $89,839,000. SG Americas Securities LLC increased its position in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the period. Whale Rock Capital Management LLC raised its stake in Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after acquiring an additional 380,800 shares during the last quarter. Finally, Senvest Management LLC lifted its position in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after acquiring an additional 304,712 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.