Wix.com Ltd. (NASDAQ:WIX – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $42.54 and last traded at $42.2730, with a volume of 942935 shares traded. The stock had previously closed at $44.54.
Analysts Set New Price Targets
A number of research analysts recently commented on WIX shares. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price target on shares of Wix.com in a report on Monday. Barclays reduced their price objective on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Citizens Jmp downgraded shares of Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Wix.com in a research note on Wednesday, March 4th. Finally, Wells Fargo & Company decreased their price target on shares of Wix.com from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 9th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and a consensus price target of $97.95.
Read Our Latest Research Report on Wix.com
Wix.com Stock Performance
Wix.com (NASDAQ:WIX – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. During the same period in the previous year, the firm earned $1.69 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that Wix.com Ltd. will post -0.27 EPS for the current year.
Institutional Trading of Wix.com
Institutional investors have recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Wix.com in the fourth quarter worth approximately $4,087,000. Intech Investment Management LLC purchased a new position in Wix.com during the 3rd quarter valued at $6,179,000. Dream Peak Capital Ltd bought a new position in Wix.com in the 4th quarter valued at $1,500,000. Massachusetts Financial Services Co. MA grew its position in Wix.com by 70.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider’s stock valued at $54,089,000 after acquiring an additional 214,864 shares during the last quarter. Finally, Lakehouse Capital Pty Ltd increased its stake in Wix.com by 43.1% in the third quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock worth $19,269,000 after purchasing an additional 32,686 shares during the period. 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.
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