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.

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