Wix.com (NASDAQ:WIX) Reaches New 1-Year High – Time to Buy?

Wix.com Ltd. (NASDAQ:WIX)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $236.47 and last traded at $235.76, with a volume of 505273 shares changing hands. The stock had previously closed at $224.58.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald lifted their price objective on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $248.00 to $276.00 in a research note on Monday. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Benchmark increased their price objective on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.82.

Wix.com Trading Up 3.8 %

The firm’s 50 day moving average price is $210.90 and its 200-day moving average price is $179.19. The company has a market cap of $12.77 billion, a P/E ratio of 145.63, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of 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 acquiring an additional 98 shares during the period. Advisors Asset Management Inc. increased its stake in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 130 shares in the last quarter. CWM LLC raised its holdings in 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 purchasing an additional 101 shares during the period. GAMMA Investing LLC boosted its position in shares of Wix.com by 962.7% during the fourth quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock worth $116,000 after purchasing an additional 491 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares during the period. Institutional investors own 81.52% of the company’s stock.

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.