Wix.com (NASDAQ:WIX) Shares Gap Up Following Analyst Upgrade

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) gapped up before the market opened on Wednesday after Piper Sandler raised their price target on the stock from $249.00 to $262.00. The stock had previously closed at $227.78, but opened at $234.84. Piper Sandler currently has an overweight rating on the stock. Wix.com shares last traded at $218.50, with a volume of 525,000 shares trading hands.

A number of other research firms have also recently issued reports on WIX. Robert W. Baird lifted their price target on Wix.com from $175.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, November 25th. StockNews.com upgraded shares of Wix.com from a "hold" rating to a "buy" rating in a research report on Saturday, November 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday. Morgan Stanley raised Wix.com from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Benchmark boosted their target price on Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $245.83.

Institutional Trading of Wix.com

Large investors have recently made changes to their positions in the company. 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 buying an additional 98 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC boosted its stake in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the 4th quarter worth approximately $43,000. Finally, Global Retirement Partners LLC increased its position in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Stock Performance

The company's 50 day moving average is $226.63 and its 200 day moving average is $192.98. The firm has a market cap of $10.86 billion, a P/E ratio of 84.30, a P/E/G ratio of 2.42 and a beta of 1.58.

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.