Wix.com (NASDAQ:WIX) Sets New 1-Year High – Here’s Why

Shares of Wix.com Ltd. (NASDAQ:WIX) hit a new 52-week high during trading on Monday . The company traded as high as $225.80 and last traded at $222.47, with a volume of 108616 shares. The stock had previously closed at $223.74.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WIX. 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, November 21st. B. Riley lifted their price objective on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. UBS Group increased their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Benchmark raised their price objective on shares of Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

Wix.com Price Performance

The business has a 50-day moving average of $179.16 and a 200 day moving average of $167.86. The company has a market capitalization of $12.05 billion, a PE ratio of 137.33, a P/E/G ratio of 4.24 and a beta of 1.55.

Institutional Investors Weigh In On Wix.com

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake 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 worth $31,000 after buying an additional 98 shares in the last quarter. CWM LLC increased its stake 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 acquiring an additional 101 shares during the last quarter. Toronto Dominion Bank raised its position 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 purchasing an additional 124 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 130 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings 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 purchasing an additional 136 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.