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

Wix.com Ltd. (NASDAQ:WIX)’s stock price 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 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 Analyst Weigh In

WIX has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Royal Bank Of Canada decreased their price objective on shares of Wix.com from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Wells Fargo & Company lowered their price objective on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating for the company in a research note on Friday. Benchmark cut their target price on Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Citigroup lowered their price target on Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and an average target price of $179.67.

Wix.com Stock Performance

The company has a 50-day simple moving average of $119.58 and a two-hundred day simple moving average of $140.33. The firm has a market capitalization of $5.86 billion, a P/E ratio of 44.63, a PEG ratio of 2.06 and a beta of 1.42.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Cetera Investment Advisers grew its position in shares of Wix.com by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider’s stock worth $255,000 after buying an additional 140 shares during the period. LPL Financial LLC boosted its stake in Wix.com by 17.1% during the first quarter. LPL Financial LLC now owns 8,525 shares of the information services provider’s stock worth $1,393,000 after acquiring an additional 1,248 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Wix.com by 5.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,806 shares of the information services provider’s stock worth $6,340,000 after acquiring an additional 1,833 shares in the last quarter. Invesco Ltd. grew its holdings in Wix.com by 18.1% in the first quarter. Invesco Ltd. now owns 68,428 shares of the information services provider’s stock worth $11,180,000 after purchasing an additional 10,496 shares during the period. Finally, Aberdeen Group plc increased its stake in shares of Wix.com by 15.3% during the first quarter. Aberdeen Group plc now owns 3,998 shares of the information services provider’s stock valued at $653,000 after purchasing an additional 530 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. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.