Wix.com (NASDAQ:WIX) Hits New 12-Month High – What’s Next?

Shares of Wix.com Ltd. (NASDAQ:WIX) hit a new 52-week high on Monday . The stock traded as high as $181.30 and last traded at $181.20, with a volume of 274188 shares trading hands. The stock had previously closed at $172.50.

Analysts Set New Price Targets

Several brokerages have commented on WIX. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Barclays reduced their target price on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. UBS Group upped their price target on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp started coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. Finally, Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Stock Down 2.4 %

The company’s 50-day simple moving average is $163.86 and its 200 day simple moving average is $158.71. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 150.59, a P/E/G ratio of 4.02 and a beta of 1.47.

Institutional Trading of Wix.com

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings 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 purchasing an additional 98 shares during the period. CWM LLC grew its position in Wix.com by 19.0% during 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. Toronto Dominion Bank increased its stake in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares during the period. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Wix.com by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after acquiring an additional 136 shares during the period. Institutional investors own 81.52% of the company’s stock.

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.