Piper Sandler Boosts Wix.com (NASDAQ:WIX) Price Target to $249.00

Wix.com (NASDAQ:WIX - Free Report) had its price target hoisted by Piper Sandler from $200.00 to $249.00 in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the information services provider's stock.

WIX has been the subject of a number of other reports. Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. JMP Securities reaffirmed a "market outperform" rating and set a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. StockNews.com cut shares of Wix.com from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Evercore ISI raised Wix.com to a "strong-buy" rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Wix.com has an average rating of "Moderate Buy" and a consensus price target of $210.44.

Wix.com Price Performance

Shares of NASDAQ WIX traded up $8.92 during trading hours on Thursday, hitting $219.19. 989,509 shares of the stock were exchanged, compared to its average volume of 554,856. The firm has a market capitalization of $12.02 billion, a P/E ratio of 172.74, a P/E/G ratio of 3.91 and a beta of 1.47. The company's 50 day moving average is $168.22 and its 200 day moving average is $161.75. Wix.com has a one year low of $95.65 and a one year high of $220.22.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after purchasing an additional 98 shares during the period. Advisors Asset Management Inc. boosted its position 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. grew its holdings 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 in the last quarter. CWM LLC raised its position in Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock valued at $106,000 after buying an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock valued at $124,000 after acquiring an additional 124 shares in the last quarter. 81.52% of the stock is currently 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.