Short Interest in Wix.com Ltd. (NASDAQ:WIX) Drops By 17.2%

Wix.com Ltd. (NASDAQ:WIX) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 4,583,517 shares, a decrease of 17.2% from the February 26th total of 5,533,285 shares. Based on an average daily volume of 3,139,208 shares, the days-to-cover ratio is currently 1.5 days. Approximately 8.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WIX shares. UBS Group reissued a “buy” rating and issued a $145.00 price target on shares of Wix.com in a research note on Friday, March 6th. Barclays lowered their price objective on Wix.com from $205.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 target price on shares of Wix.com in a research report on Thursday, March 5th. Wells Fargo & Company decreased their price target on Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Finally, Jefferies Financial Group lowered their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.15.

Institutional Trading of Wix.com

A number of large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. Westside Investment Management Inc. increased its holdings in Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Wix.com in the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. raised its position in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares in the last quarter. Finally, Employees Retirement System of Texas boosted its stake in shares of Wix.com by 129.9% in the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock valued at $46,000 after buying an additional 252 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 3.0%

NASDAQ:WIX traded up $2.66 during trading hours on Tuesday, reaching $90.44. 1,729,896 shares of the stock were exchanged, compared to its average volume of 2,511,888. Wix.com has a twelve month low of $60.22 and a twelve month high of $191.24. The business has a 50-day moving average of $80.96 and a two-hundred day moving average of $109.32. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 111.33, a PEG ratio of 2.86 and a beta of 1.40.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The firm had revenue of $524.27 million for the quarter, compared to the consensus estimate of $527.69 million. During the same quarter in the previous year, the business earned $2.10 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts forecast that Wix.com will post 3.65 EPS for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information services provider to buy up to 40.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.