Wix.com (NASDAQ:WIX) Sets New 12-Month High After Analyst Upgrade

Wix.com Ltd. (NASDAQ:WIX) hit a new 52-week high on Wednesday after B. Riley raised their price target on the stock from $190.00 to $220.00. B. Riley currently has a buy rating on the stock. Wix.com traded as high as $209.00 and last traded at $205.62, with a volume of 290782 shares traded. The stock had previously closed at $183.95.

A number of other equities research analysts have also recently weighed in on WIX. Cantor Fitzgerald increased their price target on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price objective on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America lifted their target price on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays upped their price target on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, KeyCorp began coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating for the company. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.44.

Institutional Trading of Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the company. iA Global Asset Management Inc. increased its stake in Wix.com by 176.5% in the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 10,427 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Wix.com in the 3rd quarter valued at $661,000. Quadrature Capital Ltd lifted its position in shares of Wix.com by 65.1% during the 1st quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock worth $3,095,000 after buying an additional 8,879 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in Wix.com in the first quarter valued at about $5,197,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

The stock has a market cap of $12.00 billion, a P/E ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47. The stock has a 50-day simple moving average of $168.22 and a 200-day simple moving average of $161.75.

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.