Wix.com (NASDAQ:WIX) Shares Gap Down – Time to Sell?

Shares of Wix.com Ltd. (NASDAQ:WIX) gapped down prior to trading on Tuesday . The stock had previously closed at $53.36, but opened at $50.74. Wix.com shares last traded at $51.5910, with a volume of 115,997 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WIX. Royal Bank Of Canada cut their price objective on shares of Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, June 9th. JPMorgan Chase & Co. reduced their price target on shares of Wix.com from $86.00 to $62.00 and set an “underweight” rating on the stock in a research note on Thursday, June 18th. Scotiabank reaffirmed an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Cantor Fitzgerald cut their price target on shares of Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, UBS Group cut their price objective on Wix.com from $68.00 to $58.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Wix.com currently has a consensus rating of “Hold” and a consensus price target of $94.10.

Wix.com Stock Down 4.8%

The stock has a 50 day simple moving average of $49.88 and a 200 day simple moving average of $69.80. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of -62.38 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 EPS. Equities analysts expect that Wix.com Ltd. will post -0.17 earnings per share for the current year.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Wix.com by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after buying an additional 436 shares during the last quarter. Woodline Partners LP lifted its holdings in Wix.com by 9.7% during the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after acquiring an additional 202 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. Cetera Investment Advisers boosted its stake in Wix.com by 18.9% in the second quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after acquiring an additional 295 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Wix.com by 29.5% in the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after purchasing an additional 1,580 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

About Wix.com

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.