Wix.com (NASDAQ:WIX) Sets New 1-Year High – Here’s Why

Shares of Wix.com Ltd. (NASDAQ:WIX) reached a new 52-week high during trading on Tuesday . The company traded as high as $246.82 and last traded at $241.67, with a volume of 32461 shares. The stock had previously closed at $240.89.

Analyst Ratings Changes

WIX has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Jefferies Financial Group raised their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald upped their price target on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, B. Riley increased their price target on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $234.06.

Wix.com Stock Performance

The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 150.71, a PEG ratio of 2.69 and a beta of 1.56. The firm’s 50 day moving average is $217.71 and its 200-day moving average is $182.11.

Hedge Funds Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after acquiring an additional 98 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock worth $43,000 after buying an additional 89 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Wix.com by 113.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock valued at $56,000 after buying an additional 139 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after buying an additional 101 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.