Wix.com (NASDAQ:WIX) Sets New 52-Week High Following Analyst Upgrade

Shares of Wix.com Ltd. (NASDAQ:WIXGet Free Report) reached a new 52-week high on Thursday after Bank of America raised their price target on the stock from $153.00 to $183.00. Bank of America currently has a buy rating on the stock. Wix.com traded as high as $177.55 and last traded at $177.17, with a volume of 102355 shares traded. The stock had previously closed at $172.80.

A number of other brokerages have also commented on WIX. Piper Sandler lowered shares of Wix.com from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $165.00 to $184.00 in a report on Tuesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Wix.com from $148.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th. UBS Group upped their price target on shares of Wix.com from $160.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Citigroup raised their target price on Wix.com from $175.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, May 25th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.59.

View Our Latest Report on WIX

Hedge Funds Weigh In On Wix.com

Hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in Wix.com by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock worth $395,000 after buying an additional 215 shares in the last quarter. Swedbank AB purchased a new position in shares of Wix.com during the first quarter valued at approximately $2,319,000. iA Global Asset Management Inc. raised its holdings in shares of Wix.com by 176.5% during the first quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after purchasing an additional 10,427 shares during the last quarter. Tidal Investments LLC bought a new position in Wix.com during the first quarter valued at approximately $5,197,000. Finally, California State Teachers Retirement System boosted its holdings in 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 purchasing an additional 5,033 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

The firm has a market cap of $10.06 billion, a P/E ratio of 154.39, a P/E/G ratio of 3.89 and a beta of 1.46. The business’s 50-day simple moving average is $138.51 and its 200 day simple moving average is $129.20.

Wix.com Company Profile

(Get Free Report)

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.

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