Wix.com (NASDAQ:WIX) Sets New 52-Week High After Analyst Upgrade

by · The Markets Daily

Wix.com Ltd. (NASDAQ:WIX – Get Free Report) reached a new 52-week high during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $195.00 to $205.00. JPMorgan Chase & Co. currently has a neutral 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.

Other equities analysts also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. Barclays decreased their price target on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of Wix.com in a research report on Monday, October 7th. UBS Group lifted their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, StockNews.com downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.13.

View Our Latest Analysis on WIX

Hedge Funds Weigh In On Wix.com

Institutional investors and hedge funds have recently modified their holdings of the business. Seven Eight Capital LP bought a new position in shares of Wix.com during the 1st quarter worth approximately $736,000. Quadrature Capital Ltd lifted its stake in Wix.com by 65.1% in the first quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock valued at $3,095,000 after acquiring an additional 8,879 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Wix.com by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,401 shares of the information services provider’s stock valued at $1,431,000 after purchasing an additional 1,696 shares during the period. Bayesian Capital Management LP bought a new stake in Wix.com in the first quarter valued at approximately $779,000. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after acquiring an additional 488 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Up 13.6 %

The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 167.46, a P/E/G ratio of 3.84 and a beta of 1.47. The company’s fifty day simple moving average is $166.46 and its 200 day simple moving average is $160.95.

Wix.com Company Profile

(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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