Wix.com (NASDAQ:WIX) Price Target Raised to $262.00

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

A number of other brokerages also recently issued reports on WIX. Jefferies Financial Group upped their price target on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $248.00 to $276.00 in a research report on Monday, January 13th. Citigroup boosted their price target on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird raised their price objective on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have issued 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 an average price target of $245.83.

Wix.com Stock Down 6.2 %

Shares of WIX stock opened at $203.65 on Friday. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11. The firm has a 50 day moving average of $226.63 and a two-hundred day moving average of $192.98. The stock has a market capitalization of $11.16 billion, a PE ratio of 86.66, a P/E/G ratio of 2.42 and a beta of 1.58.

Institutional Trading of Wix.com

Several large investors have recently modified their holdings of WIX. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after purchasing an additional 49,500 shares during the last quarter. BNP Paribas Financial Markets increased its position in Wix.com by 60.8% during the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Wix.com in the fourth quarter worth $256,000. Cumberland Partners Ltd lifted its position in shares of Wix.com by 18.8% in the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock valued at $3,176,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Wix.com during the third quarter valued at $461,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.