Wix.com (NASDAQ:WIX) Stock Rating Upgraded by Piper Sandler

Piper Sandler upgraded shares of Wix.com (NASDAQ:WIX) from a neutral rating to an overweight rating in a report released on Monday, MarketBeat.com reports. They currently have $200.00 price target on the information services provider’s stock, up from their previous price target of $184.00.

A number of other brokerages have also recently weighed in on WIX. Barclays increased their price target on Wix.com from $184.00 to $186.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Bank of America raised their price objective on shares of Wix.com from $153.00 to $183.00 and gave the company a buy rating in a research note on Thursday, June 6th. StockNews.com raised Wix.com from a hold rating to a buy rating in a research note on Thursday, August 15th. UBS Group boosted their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Wix.com from $148.00 to $195.00 and gave the stock a neutral rating in a research report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $190.19.

Wix.com Stock Performance

Wix.com stock opened at $171.74 on Monday. The firm has a market capitalization of $9.82 billion, a PE ratio of 150.65, a price-to-earnings-growth ratio of 3.50 and a beta of 1.47. Wix.com has a one year low of $76.90 and a one year high of $178.65. The stock’s 50 day moving average price is $160.72 and its 200 day moving average price is $150.98.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data 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. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, analysts forecast that Wix.com will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wix.com

Several large investors have recently bought and sold shares of the stock. Northwest Bank & Trust Co bought a new position in Wix.com in the fourth quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in Wix.com during the first quarter worth about $37,000. Industrial Alliance Investment Management Inc. increased 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. Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% in the second 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 during the last quarter. Finally, Optimist Retirement Group LLC acquired a new position in shares of Wix.com in the 4th quarter worth approximately $201,000. 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.