Wix.com (NASDAQ:WIX) Sets New 12-Month Low – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX)’s share price reached a new 52-week low on Friday . The company traded as low as $51.33 and last traded at $52.2230, with a volume of 499637 shares traded. The stock had previously closed at $53.70.

Analyst Upgrades and Downgrades

WIX has been the topic of a number of research analyst reports. Benchmark dropped their target price on shares of Wix.com from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wells Fargo & Company downgraded shares of Wix.com from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $137.00 to $54.00 in a research note on Thursday, May 14th. Piper Sandler initiated coverage on shares of Wix.com in a research note on Thursday, March 12th. They issued a “neutral” rating and a $98.00 target price on the stock. Oppenheimer dropped their target price on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Finally, Cantor Fitzgerald dropped their target price on shares of Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.90.

Wix.com Stock Down 1.4%

The stock’s 50 day moving average price is $69.79 and its 200-day moving average price is $83.01. The stock has a market capitalization of $3.09 billion, a P/E ratio of -67.96 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. During the same quarter in the prior year, the business posted $1.69 earnings per share. Wix.com’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts anticipate that Wix.com Ltd. will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its stake in Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares in the last quarter. Senvest Management LLC boosted its stake in Wix.com by 24.8% in the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after acquiring an additional 746,200 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Wellington Management Group LLP boosted its stake in Wix.com by 90.4% in the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after acquiring an additional 1,609,989 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Wix.com by 57.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after acquiring an additional 578,729 shares in the last quarter. 81.52% of the stock is currently owned by 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.