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 mid-day trading on Monday . The stock traded as high as $225.80 and last traded at $222.47, with a volume of 108616 shares changing hands. The stock had previously closed at $223.74.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WIX. B. Riley lifted their price target on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada lifted their price target on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lifted their price target on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and set a $200.00 price objective on shares of Wix.com in a report on Wednesday, November 20th. Finally, StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

Wix.com Stock Performance

The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 139.84, a P/E/G ratio of 4.30 and a beta of 1.55. The business has a 50 day moving average price of $176.92 and a 200-day moving average price of $166.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dorsal Capital Management LP increased its position in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after buying an additional 250,000 shares in the last quarter. Captrust Financial Advisors increased its position in Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after buying an additional 201,532 shares in the last quarter. Renaissance Technologies LLC increased its position in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares in the last quarter. Whale Rock Capital Management LLC increased its position in Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Wix.com in the 2nd quarter valued at about $13,646,000. 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.