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

Wix is trading near two key moving averages

by Josh Selway

Published on Jan 10, 2019 at 10:08 AM

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.


a schaeffer's exclusive

5 HOT STOCK PICKS

Heat up your summer trading with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Future of Marijuana is in the "Priceline of Pot"
Click to continue to advertiser's site.
Bull Notes for Snap, Pinterest Stocks
It's a big morning for social media stocks
Analyst Upgrades BAC Stock, Targets 32% Upside
The brokerage firm thinks valuation and consensus estimates "look too low"
The "Trick" Used By the World's Wealthiest
A simple way to stop picking losers, and start cashing in like Wall Street's elite.