Wix.com (NASDAQ:WIX) Trading Up 6.4% – What’s Next?

Wix.com Ltd. (NASDAQ:WIX) shares shot up 6.4% on Wednesday . The company traded as high as $108.68 and last traded at $108.4890. 369,182 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,233,037 shares. The stock had previously closed at $101.95.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of research analyst reports. JMP Securities set a $185.00 price target on shares of Wix.com in a research report on Thursday, November 20th. Needham & Company LLC dropped their price objective on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Citizens Jmp decreased their target price on shares of Wix.com from $210.00 to $185.00 and set a “market outperform” rating for the company in a research note on Thursday, November 20th. Citigroup lowered their price target on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, B. Riley reiterated a “buy” rating and set a $200.00 price objective (down from $230.00) on shares of Wix.com in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.05.

Wix.com Trading Up 5.5%

The business’s fifty day moving average price is $120.89 and its two-hundred day moving average price is $140.85. The firm has a market cap of $6.04 billion, a P/E ratio of 45.97, a P/E/G ratio of 1.93 and a beta of 1.42.

Institutional Investors Weigh In On Wix.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. raised its position in shares of Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP bought a new position in Wix.com in the 1st quarter worth $29,000. Geneos Wealth Management Inc. raised its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares during the period. Finally, National Bank of Canada FI acquired a new position in Wix.com during the 3rd quarter worth $54,000. 81.52% of the stock is currently 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.