Wix.com (NASDAQ:WIX) Hits New 12-Month High – Should You Buy?

Wix.com Ltd. (NASDAQ:WIX)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $178.74 and last traded at $177.90, with a volume of 729186 shares. The stock had previously closed at $171.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a report on Monday, August 5th. UBS Group upped their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. 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. Finally, StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Stock Performance

The stock’s 50-day simple moving average is $162.44 and its two-hundred day simple moving average is $153.45. The stock has a market cap of $10.13 billion, a price-to-earnings ratio of 150.68, a price-to-earnings-growth ratio of 3.46 and a beta of 1.48.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.58 EPS. As a group, research analysts predict that Wix.com Ltd. will post 2.1 earnings per share for the current year.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its stake in shares of Wix.com by 416.5% in the first quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock valued at $11,061,000 after buying an additional 64,878 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Wix.com by 36.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after purchasing an additional 8,422 shares during the period. iA Global Asset Management Inc. raised its stake in shares of Wix.com by 176.5% in 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 in the last quarter. Quadrature Capital Ltd lifted its position in Wix.com by 65.1% in the first quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock worth $3,095,000 after purchasing an additional 8,879 shares during the period. Finally, Tidal Investments LLC acquired a new stake in Wix.com during the first quarter worth $5,197,000. 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.