Wix.com (NASDAQ:WIX) Reaches New 1-Year High – What’s Next?

Wix.com Ltd. (NASDAQ:WIX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $246.82 and last traded at $241.67, with a volume of 32461 shares trading hands. The stock had previously closed at $240.89.

Analysts Set New Price Targets

A number of research firms have commented on WIX. Royal Bank of Canada raised their price target on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Jefferies Financial Group raised their target price on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Cantor Fitzgerald upped their price target on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $225.00 to $300.00 in a report on Tuesday. Finally, Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.06.

Wix.com Stock Down 1.3 %

The stock has a 50-day moving average of $218.70 and a 200 day moving average of $182.70. The company has a market capitalization of $12.88 billion, a PE ratio of 146.88, a P/E/G ratio of 2.66 and a beta of 1.56.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the last quarter. Dorsal Capital Management LP grew its holdings in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares during the period. Captrust Financial Advisors grew its holdings in Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after purchasing an additional 201,532 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Wix.com during the 2nd quarter valued at $13,646,000. Institutional investors own 81.52% of the company’s stock.

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.