Piper Sandler lowers Wix.com (NASDAQ:WIX) price target to $156.00

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

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

The NASDAQ WIX opened Wednesday at $154.19. The company has a debt 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 minimum of $133.00 and a one-year maximum 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.

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Wix.com (NASDAQ:WIX) last released its results on Thursday, November 11. The information services provider reported ($0.21) EPS for the quarter, beating analyst consensus estimates of ($1.33) by $1.12. The company posted revenue of $320.80 million in the quarter, versus a 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 of the previous year, the company achieved EPS of ($0.84). As a group, stock analysts predict that Wix.com will post an EPS of -4.86 for the current fiscal year.

Institutional investors have recently changed their positions in the stock. Stephens Inc. AR increased its holdings of Wix.com shares by 200.0% during the third quarter. Stephens Inc. AR now owns 150 shares of the information services provider worth $29,000 after buying an additional 100 shares in the last quarter. Sandy Spring Bank increased its stake in Wix.com by 70.2% during the 3rd quarter. Sandy Spring Bank now owns 160 shares of the information services provider valued at $32,000 after buying an additional 66 shares during the period. First Horizon Advisors Inc. increased its stake in Wix.com by 5,261.5% during Q3. First Horizon Advisors Inc. now owns 697 shares of the information services provider 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 worth $86,000 after buying 64 more shares in the last quarter. 91.22% of the shares are held 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 email marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami and Giora Kaplan on October 5, 2006 and is based in Tel Aviv, Israel.

Read more: Why are trading ranges important?

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Analyst Recommendations for Wix.com (NASDAQ: WIX)

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