Wix.com (NASDAQ:WIX) Reaches New 52-Week High After 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. The stock had previously closed at $223.41.

A number of other research analysts also recently commented on WIX. JPMorgan Chase & Co. increased their target price on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Benchmark raised their price objective on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. JMP Securities reiterated a “market outperform” rating and set a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. B. Riley increased their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Barclays lifted their price target on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its stake 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 valued at $5,792,000 after purchasing an additional 1,127 shares in the last quarter. Geode Capital Management LLC increased its stake in Wix.com by 3.2% during 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 period. Public Employees Retirement System of Ohio bought a new stake in shares of Wix.com during the 3rd quarter worth about $10,523,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Wix.com by 1.2% in the 3rd 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 period. Finally, XTX Topco Ltd lifted its stake in shares of Wix.com by 348.6% in the 3rd 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 during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Price Performance

The firm has a market capitalization of $12.19 billion, a P/E ratio of 139.81, a PEG ratio of 4.24 and a beta of 1.47. The firm’s fifty day moving average price is $172.07 and its 200-day moving average price is $164.11.

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.