Wix.com (NASDAQ:WIX) Sets New 1-Year High After Analyst Upgrade

Wix.com Ltd. (NASDAQ:WIX) reached a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $184.00 to $236.00. Barclays currently has an overweight rating on the stock. Wix.com traded as high as $209.00 and last traded at $205.62, with a volume of 290782 shares. The stock had previously closed at $183.95.

Several other equities research analysts have also recently issued reports on WIX. JPMorgan Chase & Co. lifted their price objective on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a research report on Monday, October 7th. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $184.00 to $200.00 in a research report on Monday, September 23rd. Finally, Benchmark boosted their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.38.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dorsal Capital Management LP raised its holdings in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after purchasing an additional 33,338 shares in the last quarter. Senvest Management LLC raised its holdings in Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after purchasing an additional 50,482 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its holdings in shares of Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Price Performance

The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 166.88, a P/E/G ratio of 3.84 and a beta of 1.47. The company’s fifty day moving average price is $167.07 and its 200-day moving average price is $161.41.

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.