Wix.com (NASDAQ:WIX) Upgraded to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Wix.com (NASDAQ:WIX) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. Piper Sandler currently has $200.00 price objective on the information services provider’s stock, up from their prior price objective of $184.00.

A number of other analysts also recently commented on the company. KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They issued a sector weight rating on the stock. StockNews.com raised Wix.com from a hold rating to a buy rating in a research note on Thursday, August 15th. Evercore ISI raised Wix.com to a strong-buy rating in a research note on Monday, August 5th. Cantor Fitzgerald began coverage on Wix.com in a research note on Thursday, September 5th. They issued an overweight rating and a $200.00 price objective on the stock. Finally, Benchmark boosted their price objective on Wix.com from $210.00 to $225.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $190.19.

Wix.com Stock Up 2.0 %

WIX stock opened at $163.87 on Monday. Wix.com has a 52-week low of $76.90 and a 52-week high of $178.65. The stock’s 50 day moving average is $160.45 and its two-hundred day moving average is $150.52. The company has a market capitalization of $9.37 billion, a PE ratio of 143.75, a P/E/G ratio of 3.47 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same period in the previous year, the business earned $0.58 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Wix.com will post 2.01 EPS for the current year.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently bought and sold shares of WIX. Norges Bank purchased a new stake in Wix.com in the 4th quarter worth about $34,554,000. Dorsal Capital Management LP lifted its stake in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Capital Fund Management S.A. increased its position in Wix.com by 1,378.7% in the 4th quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock worth $19,739,000 after purchasing an additional 149,605 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Wix.com by 328.5% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock worth $22,144,000 after purchasing an additional 137,991 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.