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

Shares of Wix.com Ltd. (NASDAQ:WIX) hit a new 52-week high during trading on Wednesday after B. Riley raised their price target on the stock from $190.00 to $220.00. B. Riley currently has a buy rating on the stock. Wix.com traded as high as $209.00 and last traded at $205.62, with a volume of 290782 shares. The stock had previously closed at $183.95.

WIX has been the topic of a number of other reports. Benchmark upped their target price on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group increased their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Bank of America lifted their target price on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank of Canada increased their price target on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.44.

Hedge Funds Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the company. iA Global Asset Management Inc. lifted its position in shares of Wix.com by 176.5% in the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock worth $2,246,000 after purchasing an additional 10,427 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after buying an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Wix.com in the 3rd quarter valued at about $661,000. Quadrature Capital Ltd increased its position in shares of 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. Finally, Tidal Investments LLC acquired a new stake in shares of Wix.com in the first quarter valued at about $5,197,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 4.1 %

The firm has a fifty day moving average of $168.22 and a 200-day moving average of $161.75. The firm has a market cap of $12.00 billion, a P/E ratio of 136.76, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47.

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.