Wix.com (NASDAQ:WIX) Shares Gap Up – Should You Buy?

Wix.com Ltd. (NASDAQ:WIX) gapped up before the market opened on Wednesday . The stock had previously closed at $87.96, but opened at $96.06. Wix.com shares last traded at $91.5630, with a volume of 1,015,933 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Wix.com in a research note on Wednesday, January 21st. Royal Bank Of Canada set a $70.00 target price on Wix.com in a report on Wednesday, January 7th. Evercore ISI reduced their price objective on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Oppenheimer lowered their target price on shares of Wix.com from $220.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Wix.com in a report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.86.

Wix.com Stock Up 6.5%

The business’s 50-day simple moving average is $97.17 and its 200-day simple moving average is $127.84. The stock has a market cap of $5.25 billion, a PE ratio of 39.96, a PEG ratio of 2.79 and a beta of 1.42.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of WIX. Westside Investment Management Inc. grew its stake 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 worth $27,000 after acquiring an additional 77 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Wix.com in the fourth quarter worth about $27,000. Finally, National Bank of Canada FI bought a new position in shares of Wix.com in the third quarter worth approximately $54,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Company Profile

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.