Wix.com (NASDAQ:WIX) Reaches New 52-Week Low – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $40.51 and last traded at $40.8940, with a volume of 521681 shares traded. The stock had previously closed at $41.86.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Wells Fargo & Company dropped their target price on shares of Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, June 9th. Citigroup reduced their target price on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Jefferies Financial Group decreased their price target on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Finally, Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of Wix.com in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.75.

Wix.com Price Performance

The stock has a 50 day simple moving average of $60.56 and a two-hundred day simple moving average of $78.29. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -52.82 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last issued its earnings results 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 return on equity of 33.28% and a negative net margin of 1.97%.The company had revenue of $541.17 million during the quarter, compared to analyst estimates of $544.04 million. During the same period last year, the business earned $1.69 earnings per share. The firm’s revenue was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that Wix.com Ltd. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently bought and sold shares of WIX. Farther Finance Advisors LLC increased its holdings in shares of Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after buying an additional 132 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in Wix.com in the fourth quarter valued at approximately $27,000. National Bank of Canada FI purchased a new position in Wix.com in the third quarter worth approximately $54,000. Finally, MAI Capital Management grew its position in Wix.com by 109.1% in the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after acquiring an additional 191 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.