Wix.com (NASDAQ:WIX) Reaches New 52-Week High – Time to Buy?

Wix.com Ltd. (NASDAQ:WIX)’s share price hit a new 52-week high on Monday . The stock traded as high as $181.30 and last traded at $181.20, with a volume of 274188 shares trading hands. The stock had previously closed at $172.50.

Analyst Upgrades and Downgrades

WIX has been the subject of several recent research reports. UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Monday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a research note on Monday, October 7th. Finally, Benchmark boosted their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Price Performance

The company has a market cap of $10.11 billion, a price-to-earnings ratio of 150.59, a P/E/G ratio of 4.02 and a beta of 1.47. The firm has a 50-day moving average price of $163.86 and a 200 day moving average price of $158.71.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently bought and sold shares of the business. Dorsal Capital Management LP increased its position in shares of Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of 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 purchasing an additional 171,500 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Wix.com in the 2nd quarter valued at $13,646,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Wix.com by 2,110.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock worth $9,568,000 after buying an additional 66,447 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Wix.com during the 1st quarter worth $7,967,000. 81.52% of the stock is owned by institutional investors.

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.