Wix.com (NASDAQ:WIX) Hits New 1-Year High Following Analyst Upgrade

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

A number of other equities analysts have also weighed in on WIX. Royal Bank of Canada boosted their price objective on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. UBS Group lifted their price objective on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald raised their price target on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird lifted their price target on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday. Four 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.71.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Wix.com by 3.4% during the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider’s stock worth $5,792,000 after purchasing an additional 1,127 shares in the last quarter. Geode Capital Management LLC boosted its position in Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after buying an additional 14,340 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Wix.com during the third quarter valued at about $10,523,000. Nomura Asset Management Co. Ltd. increased its position in shares of Wix.com by 1.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider’s stock worth $2,454,000 after acquiring an additional 170 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Wix.com by 348.6% in the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after acquiring an additional 6,919 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Price Performance

The business has a fifty day moving average of $172.07 and a 200 day moving average of $164.11. The stock has a market cap of $12.19 billion, a PE ratio of 139.81, a P/E/G ratio of 4.24 and a beta of 1.47.

About Wix.com

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.