Wix.com Stock Added to Analyst's Best Ideas List

Wix is trading near two key moving averages

Jan 10, 2019 at 10:08 AM
facebook twitter linkedin


Website services provider Wix.com Ltd (NASDAQ:WIX) saw its price target raised to $130 from $123 at Wedbush, which added the stock to its best ideas list. This bull note comes as WIX shares try to move past their 50-day moving average after overcoming recent resistance from the 200-day moving average just last week. The security is up 0.5% so far today at $98.50.

Longer term, the stock has been a strong performer, finishing higher each of the last four years, including a 57% rise in 2018. So far this year, the shares have added 8.9%. Back on Oct. 1, they hit a record high of $121.45.

Most analysts are already bullish on Wix.com, with 16 of the 17 in coverage recommending it as a "buy" or "strong buy." Moreover, the average 12-month price target stands up at $114.82, an almost 17% premium to current levels.

As for options activity, volume has been light on an absolute basis, but it is notable that peak open interest sits at the far out-of-the-money April 135 call. Meanwhile, data does suggest it would be a good time to speculate on WIX with options, based on the Schaeffer's Volatility Index (SVI) of 48%, which ranks in the low 17th annual percentile, hinting at low volatility expectations at the moment.

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Best stocks for October and worst stocks for October
 


 


 
Special Offers from Schaeffer's Trading Partners