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

Wix.com Ltd. (NASDAQ:WIXGet Free Report)’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.

Read Our Latest Stock Report on Wix.com

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

(Get Free Report)

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.

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