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

Wix.com Ltd. (NASDAQ:WIX) shares hit a new 52-week low on Wednesday . The stock traded as low as $42.54 and last traded at $42.2730, with a volume of 942935 shares changing hands. The stock had previously closed at $44.54.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WIX. Morgan Stanley decreased their target price on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Wells Fargo & Company cut their price objective on Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, June 9th. Weiss Ratings downgraded Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Bank of America dropped their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Wix.com in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.95.

Wix.com Price Performance

The company has a market capitalization of $2.45 billion, a PE ratio of -53.91 and a beta of 0.91. The company has a 50-day moving average of $63.33 and a two-hundred day moving average of $79.79.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results 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). 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 analysts’ expectations of $544.04 million. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, research analysts anticipate that Wix.com Ltd. will post -0.27 EPS for the current year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake 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 valued at $25,000 after buying an additional 132 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Wix.com during the fourth quarter valued at about $27,000. National Bank of Canada FI purchased a new position in shares of Wix.com in the third quarter valued at about $54,000. Finally, MAI Capital Management lifted its position in shares of Wix.com by 109.1% in the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after acquiring an additional 191 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.