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

Wix.com Ltd. (NASDAQ:WIX)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Evercore ISI upgraded the stock to a strong-buy rating. The company 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.

Several other equities analysts have also recently issued reports on WIX. Cantor Fitzgerald lifted their price objective on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. B. Riley lifted their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. UBS Group increased their price objective on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Piper Sandler lifted their target price on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Royal Bank of Canada upped their target price on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.71.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Wix.com by 98.0% during 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 in the last quarter. Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. CWM LLC raised its holdings in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after buying an additional 101 shares in the last quarter. Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the last quarter. Finally, Metis Global Partners LLC bought a new stake in shares of Wix.com during the 3rd quarter worth about $200,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Trading Down 0.4 %

The stock has a fifty day moving average price of $172.07 and a 200 day moving average price of $164.11. The firm has a market cap of $12.19 billion, a price-to-earnings ratio of 139.81, a price-to-earnings-growth ratio of 4.24 and a beta of 1.47.

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.