Wix.com (NASDAQ:WIX) Reaches New 52-Week High - What's Next?

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $236.47 and last traded at $235.76, with a volume of 505273 shares. The stock had previously closed at $224.58.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WIX. Needham & Company LLC reaffirmed a "buy" rating and set a $200.00 target price on shares of Wix.com in a research note on Wednesday, November 20th. Citigroup boosted their target price on Wix.com from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Royal Bank of Canada upped their price target on Wix.com from $190.00 to $245.00 and gave the stock an "outperform" rating in a research note on Thursday, November 21st. Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, Evercore ISI upgraded Wix.com to a "strong-buy" rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.82.

Wix.com Stock Up 5.2 %

The firm has a market cap of $12.96 billion, a PE ratio of 147.73, a P/E/G ratio of 4.22 and a beta of 1.56. The company's fifty day moving average price is $210.90 and its two-hundred day moving average price is $179.19.

Institutional Trading of Wix.com

A number of institutional investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. raised its position in shares of Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after buying an additional 130 shares during the period. CWM LLC boosted its stake in Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock worth $106,000 after buying an additional 101 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wix.com by 962.7% during the 4th 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 during the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock worth $124,000 after acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

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.