Piper Sandler Lowers Wix.com (NASDAQ:WIX) Price Target to $156.00 – MarketBeat

Wix.com (NASDAQ:WIX) had its price objective decreased by analysts at Piper Sandler from $218.00 to $156.00 in a report released on Wednesday, The Fly reports. The firm presently has a “neutral” rating on the information services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 1.17% from the stock’s previous close.

A number of other brokerages also recently issued reports on WIX. Barclays lowered their price target on Wix.com from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, November 12th. Needham & Company LLC cut their price target on Wix.com from $265.00 to $250.00 and set a “buy” rating on the stock in a research note on Friday, November 12th. JMP Securities cut their price target on Wix.com from $282.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, November 22nd. Oppenheimer cut their target price on Wix.com from $275.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, November 15th. Finally, Berenberg Bank began coverage on Wix.com in a report on Monday, October 25th. They issued a “buy” rating and a $251.00 price target for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Wix.com has a consensus rating of “Buy” and a consensus price target of $270.37.

NASDAQ WIX opened at $154.19 on Wednesday. The company has a debt-to-equity ratio of 4.71, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $8.64 billion, a P/E ratio of -63.98 and a beta of 1.29. Wix.com has a one year low of $133.00 and a one year high of $362.07. The stock has a 50 day moving average price of $162.46 and a 200-day moving average price of $209.39.

Wix.com (NASDAQ:WIX) last posted its earnings results on Thursday, November 11th. The information services provider reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($1.33) by $1.12. The firm had revenue of $320.80 million during the quarter, compared to the consensus estimate of $314.83 million. Wix.com had a negative return on equity of 67.18% and a negative net margin of 10.61%. During the same period in the prior year, the company earned ($0.84) EPS. As a group, equities analysts predict that Wix.com will post -4.86 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR grew its holdings in shares of Wix.com by 200.0% during the third quarter. Stephens Inc. AR now owns 150 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Sandy Spring Bank raised its stake in Wix.com by 70.2% during the 3rd quarter. Sandy Spring Bank now owns 160 shares of the information services provider’s stock valued at $32,000 after purchasing an additional 66 shares during the period. First Horizon Advisors Inc. raised its stake in Wix.com by 5,261.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 697 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 684 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in shares of Wix.com in the third quarter worth $51,000. Finally, Pacer Advisors Inc. increased its position in Wix.com by 17.1% during the third quarter. Pacer Advisors Inc. now owns 438 shares of the information services provider’s stock worth $86,000 after buying an additional 64 shares during the last quarter. 91.22% of the stock is owned by hedge funds and other institutional investors.

About Wix.com

Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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Piper Sandler Lowers Wix.com (NASDAQ:WIX) Price Target to $156.00 – MarketBeat

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