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

Wix.com Ltd. (NASDAQ:WIX) shares 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.

Analyst Ratings Changes

WIX has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Bank of America boosted their price objective on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Piper Sandler boosted their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, UBS Group boosted their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.71.

Wix.com Stock Down 1.5 %

The stock has a market cap of $12.09 billion, a PE ratio of 139.84, a P/E/G ratio of 4.30 and a beta of 1.55. The firm has a 50-day simple moving average of $176.92 and a 200-day simple moving average of $166.67.

Institutional Investors Weigh In On Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. raised its position in Wix.com by 23.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after purchasing an additional 49,500 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in shares of Wix.com in the third quarter worth about $661,000. Dimensional Fund Advisors LP increased its holdings in shares of Wix.com by 448.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after buying an additional 7,070 shares during the period. California State Teachers Retirement System increased its holdings in shares of Wix.com by 9.8% in the first quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock worth $7,719,000 after buying an additional 5,033 shares during the period. Finally, Lakehouse Capital Pty Ltd increased its holdings in shares of Wix.com by 26.2% in the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after buying an additional 12,600 shares during the period. Hedge funds and other 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.