Wix.com (NASDAQ:WIX) Sets New 52-Week Low – Should You Sell?

Wix.com Ltd. (NASDAQ:WIX) reached a new 52-week low during trading on Thursday . The stock traded as low as $46.10 and last traded at $46.21, with a volume of 1498973 shares trading hands. The stock had previously closed at $48.22.

Analysts Set New Price Targets

Several research analysts recently commented on WIX shares. Barclays reduced their price objective on Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Wall Street Zen downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Morgan Stanley reduced their price objective on Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Jefferies Financial Group reduced their price objective on Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Bank of America reduced their price objective on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.95.

Wix.com Stock Performance

The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of -58.86 and a beta of 0.91. The business has a 50 day simple moving average of $64.81 and a 200-day simple moving average of $80.59.

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. Equities analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC increased its stake in shares of Wix.com by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after acquiring an additional 120 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Wix.com by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Wix.com by 2.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock worth $693,000 after acquiring an additional 142 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Wix.com by 18.7% in the 4th quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock worth $98,000 after acquiring an additional 148 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Wix.com by 13.4% in the 2nd quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after acquiring an additional 175 shares during the last quarter. 81.52% of the stock is 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.