Wix.com (NASDAQ:WIX) Sets New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

WIX has been the subject of several research analyst reports. Evercore ISI raised Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. B. Riley boosted 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. Royal Bank of Canada raised their target price on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised their price objective on shares of Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $234.06.

Wix.com Trading Down 1.3 %

The company has a market capitalization of $12.88 billion, a P/E ratio of 146.88, a price-to-earnings-growth ratio of 2.66 and a beta of 1.56. The stock’s fifty day moving average is $218.70 and its 200 day moving average is $182.70.

Institutional Trading of Wix.com

A number of institutional investors have recently modified their holdings of the company. Blue Trust Inc. increased its holdings in 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 during the period. Avior Wealth Management LLC raised its holdings in shares of Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 130 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Wix.com by 113.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock worth $56,000 after acquiring an additional 139 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Wix.com by 962.7% in the fourth quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 491 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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.