Wix.com Ltd. $WIX Stock Holdings Raised by Analyst IMS Investment Management Services Ltd.

Analyst IMS Investment Management Services Ltd. grew its position in shares of Wix.com Ltd. (NASDAQ:WIX) by 33.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 380,494 shares of the information services provider’s stock after purchasing an additional 96,400 shares during the period. Wix.com comprises 2.1% of Analyst IMS Investment Management Services Ltd.’s investment portfolio, making the stock its 6th largest position. Analyst IMS Investment Management Services Ltd.’s holdings in Wix.com were worth $60,293,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WIX. Alliancebernstein L.P. grew its holdings in shares of Wix.com by 115.8% during the first quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock valued at $91,528,000 after buying an additional 300,565 shares during the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Wix.com during the first quarter valued at approximately $26,737,000. Durable Capital Partners LP grew its holdings in shares of Wix.com by 38.7% during the first quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock valued at $94,892,000 after buying an additional 162,075 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Wix.com by 25.8% during the first quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock valued at $124,425,000 after buying an additional 155,977 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in Wix.com by 177.4% during the first quarter. Federated Hermes Inc. now owns 238,559 shares of the information services provider’s stock valued at $38,976,000 after purchasing an additional 152,573 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Up 0.9%

WIX opened at $140.65 on Wednesday. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11. The company has a market capitalization of $7.89 billion, a PE ratio of 50.05, a PEG ratio of 2.60 and a beta of 1.32. The firm’s 50 day simple moving average is $151.11 and its two-hundred day simple moving average is $153.36.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same period last year, the firm earned $1.67 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its board has authorized a stock buyback program on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Scotiabank set a $255.00 price objective on shares of Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Raymond James Financial restated a “strong-buy” rating on shares of Wix.com in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, October 8th. Barclays set a $235.00 price objective on shares of Wix.com and gave the company an “overweight” rating in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $215.37.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.