Wix.com (NASDAQ:WIX) Hits New 1-Year High – Time to Buy?

Wix.com Ltd. (NASDAQ:WIX)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $236.47 and last traded at $235.76, with a volume of 505273 shares traded. The stock had previously closed at $224.58.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WIX. Bank of America increased their price target on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Robert W. Baird raised their target price on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price 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. Benchmark raised their target price on shares of Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $200.00 target price on shares of Wix.com in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.82.

Wix.com Price Performance

The company’s 50-day moving average is $213.81 and its 200-day moving average is $180.16. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 151.08, a PEG ratio of 2.53 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in Wix.com by 113.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider’s stock valued at $56,000 after buying an additional 139 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Wix.com during the fourth quarter valued at approximately $321,000. Arkadios Wealth Advisors lifted its position in Wix.com by 22.7% during the fourth quarter. Arkadios Wealth Advisors now owns 7,193 shares of the information services provider’s stock valued at $1,543,000 after buying an additional 1,332 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Wix.com by 10.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 5,435 shares of the information services provider’s stock valued at $1,166,000 after buying an additional 504 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Wix.com by 94.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider’s stock valued at $5,648,000 after buying an additional 12,807 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.