Wix.com (NASDAQ:WIX) Sets New 52-Week High - Still a Buy?

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on WIX shares. Raymond James raised shares of Wix.com from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $225.00 to $300.00 in a report on Tuesday. Robert W. Baird boosted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Wix.com from $195.00 to $205.00 and gave the company a "neutral" rating in a research note on Wednesday, November 20th. B. Riley boosted their target price on Wix.com from $190.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, November 21st. Finally, Morgan Stanley upgraded Wix.com from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Wix.com has an average rating of "Moderate Buy" and a consensus target price of $234.06.

Wix.com Stock Performance

The company has a 50-day simple moving average of $217.71 and a 200-day simple moving average of $182.11. The company has a market cap of $13.06 billion, a price-to-earnings ratio of 148.86, a PEG ratio of 2.69 and a beta of 1.56.

Hedge Funds Weigh In On Wix.com

Large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider's stock worth $502,000 after buying an additional 63 shares during the last quarter. Avior Wealth Management LLC raised its position in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Wix.com by 98.0% in the third 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 in the last quarter. CWM LLC grew its position in shares of Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider's stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake 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 purchasing an additional 124 shares in the last quarter. 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.