Wix.com (NASDAQ:WIX) Price Target Raised to $249.00

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

A number of other research firms have also weighed in on WIX. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Monday, October 7th. KeyCorp began coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. UBS Group raised their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Benchmark raised their target price on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Price Performance

Wix.com stock opened at $217.20 on Thursday. Wix.com has a 1-year low of $95.65 and a 1-year high of $220.22. The firm has a market capitalization of $11.91 billion, a P/E ratio of 135.75, a price-to-earnings-growth ratio of 4.25 and a beta of 1.47. The company’s 50-day moving average is $170.73 and its 200 day moving average is $162.82.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Advisors Asset Management Inc. lifted its stake 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 worth $41,000 after buying an additional 130 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake 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 worth $94,000 after buying an additional 488 shares during the period. CWM LLC lifted its stake in shares of 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 lifted its stake in shares of Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the period. 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.