Wix.com (NASDAQ:WIX) Sets New 52-Week High Following Analyst Upgrade

Wix.com Ltd. (NASDAQ:WIX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Evercore ISI upgraded the stock to a strong-buy rating. The company traded as high as $224.33 and last traded at $222.28, with a volume of 366339 shares traded. The stock had previously closed at $223.41.

WIX has been the topic of a number of other research reports. Bank of America lifted their price objective on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. KeyCorp began coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating on the stock. UBS Group upped their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Barclays raised their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.71.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its stake in Wix.com by 98.0% in the 3rd 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 during the period. CWM LLC boosted its position in shares of Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares in the last quarter. Toronto Dominion Bank lifted 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 purchasing an additional 124 shares during the period. Advisors Asset Management Inc. boosted its holdings in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after buying an additional 130 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Wix.com by 2.9% during the second quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 0.5 %

The stock’s fifty day simple moving average is $172.07 and its 200-day simple moving average is $164.11. The company has a market capitalization of $12.19 billion, a PE ratio of 139.81, a PEG ratio of 4.24 and a beta of 1.47.

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.