Wix.Com (NASDAQ:WIX) Reaches New 52-Week High on Analyst Upgrade

Wix.Com Ltd (NASDAQ:WIX) shares reached a new 52-week high on Tuesday after SunTrust Banks raised their price target on the stock from $215.00 to $290.00. SunTrust Banks currently has a buy rating on the stock. Wix.Com traded as high as $255.99 and last traded at $254.45, with a volume of 7026 shares changing hands. The stock had previously closed at $249.70.

A number of other brokerages have also recently issued reports on WIX. ValuEngine upgraded shares of Wix.Com from a “hold” rating to a “buy” rating in a report on Monday, March 9th. Rosenblatt Securities lifted their price objective on shares of Wix.Com from $102.00 to $148.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Needham & Company LLC lifted their price objective on shares of Wix.Com from $165.00 to $220.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wedbush lifted their price objective on shares of Wix.Com from $180.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Finally, KeyCorp lifted their price objective on shares of Wix.Com from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Three equities research 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. The stock has a consensus rating of “Buy” and a consensus target price of $212.18.

Hedge funds have recently made changes to their positions in the business. Truewealth LLC bought a new stake in shares of Wix.Com in the first quarter valued at approximately $34,000. Allred Capital Management LLC raised its position in shares of Wix.Com by 41.4% in the first quarter. Allred Capital Management LLC now owns 352 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 103 shares during the period. Acadian Asset Management LLC raised its position in shares of Wix.Com by 652.3% in the fourth quarter. Acadian Asset Management LLC now owns 331 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 287 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Wix.Com by 212.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 412 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 280 shares during the period. Finally, Pinz Capital Management LP bought a new stake in shares of Wix.Com in the first quarter valued at approximately $50,000. 91.44% of the stock is currently owned by institutional investors and hedge funds.

The firm’s 50-day moving average price is $216.17 and its 200-day moving average price is $149.73. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The company has a market cap of $12.45 billion, a P/E ratio of -136.79 and a beta of 1.87.

Wix.Com (NASDAQ:WIX) last posted its quarterly earnings results on Thursday, May 14th. The information services provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.63. Wix.Com had a negative net margin of 11.81% and a negative return on equity of 29.30%. The company had revenue of $215.99 million for the quarter, compared to analyst estimates of $215.80 million. As a group, analysts forecast that Wix.Com Ltd will post -1.65 earnings per share for the current year.

Wix.Com Company Profile (NASDAQ:WIX)

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

Recommended Story: Back-End Load

Receive News & Ratings for Wix.Com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wix.Com and related companies with MarketBeat.com's FREE daily email newsletter.