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

Wix.com (NASDAQ:WIX) had its price objective boosted by Piper Sandler from $249.00 to $262.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. Piper Sandler’s target price points to a potential upside of 28.65% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Robert W. Baird raised their target price on shares of Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Barclays boosted their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Wells Fargo & Company assumed coverage on shares of Wix.com in a report on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and an average target price of $245.83.

Wix.com Stock Down 6.2 %

WIX opened at $203.65 on Friday. The stock’s fifty day moving average is $226.63 and its two-hundred day moving average is $192.98. The company has a market capitalization of $11.16 billion, a P/E ratio of 86.66, a PEG ratio of 2.42 and a beta of 1.58. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the period. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 1.8% during the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock worth $305,734,000 after buying an additional 25,000 shares during the last quarter. Senvest Management LLC raised its position in shares of 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 valued at $305,260,000 after buying an additional 304,712 shares during the period. Whale Rock Capital Management LLC lifted its holdings in Wix.com by 55.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock valued at $229,904,000 after acquiring an additional 380,800 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Wix.com by 21.0% in the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock worth $201,151,000 after acquiring an additional 162,400 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.