OMERS ADMINISTRATION Corp raised its position in Wix.com Ltd. (NASDAQ:WIX – Free Report) by 7,102.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,267 shares of the information services provider’s stock after purchasing an additional 685,614 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Wix.com were worth $62,623,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Rice Hall James & Associates LLC increased its position in Wix.com by 18.7% during the 1st quarter. Rice Hall James & Associates LLC now owns 296,787 shares of the information services provider’s stock worth $26,732,000 after purchasing an additional 46,703 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in Wix.com during the first quarter valued at approximately $210,000. Senvest Management LLC grew its stake in Wix.com by 24.8% during the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after buying an additional 746,200 shares during the period. Renaissance Technologies LLC grew its stake in Wix.com by 52.1% during the first quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after buying an additional 197,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Wix.com by 57.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after acquiring an additional 578,729 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on WIX shares. Citigroup cut their target price on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a report on Tuesday, June 9th. Barclays cut their price objective on 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 cut Wix.com from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada decreased their target price on Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a research report on Tuesday, June 9th. One investment 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 issued a Sell rating to the company. According to MarketBeat, Wix.com presently has an average rating of “Hold” and an average price target of $94.10.
Wix.com Trading Up 5.3%
WIX opened at $51.41 on Friday. Wix.com Ltd. has a twelve month low of $40.16 and a twelve month high of $190.93. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -65.91 and a beta of 0.93. The company has a fifty day simple moving average of $49.74 and a 200 day simple moving average of $69.30.
Wix.com (NASDAQ:WIX – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The firm had revenue of $541.17 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 EPS. On average, analysts forecast that Wix.com Ltd. will post -0.16 earnings per share for the current fiscal year.
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.
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