Wix.com (NASDAQ:WIX) Stock Price Up 6.7% – What’s Next?

Shares of Wix.com Ltd. (NASDAQ:WIX) were up 6.7% during trading on Monday . The company traded as high as $54.89 and last traded at $54.8580. Approximately 169,314 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,244,132 shares. The stock had previously closed at $51.41.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WIX shares. Benchmark reissued a “buy” rating on shares of Wix.com in a research note on Tuesday, June 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Wix.com in a research note on Monday, June 15th. Citigroup lowered their price target on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. JPMorgan Chase & Co. dropped their price target on Wix.com from $86.00 to $62.00 and set an “underweight” rating for the company in a research note on Thursday, June 18th. Finally, Citizens Jmp downgraded Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has an average rating of “Hold” and an average price target of $94.10.

Wix.com Price Performance

The company has a market cap of $3.28 billion, a price-to-earnings ratio of -72.05 and a beta of 0.93. The business’s fifty day moving average price is $49.74 and its 200 day moving average price is $69.08.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.69 earnings per share. As a group, equities research analysts anticipate that Wix.com Ltd. will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in WIX. AQR Capital Management LLC boosted its holdings in Wix.com by 36.6% in the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after acquiring an additional 436 shares during the last quarter. Woodline Partners LP raised its holdings in Wix.com by 9.7% during the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after purchasing an additional 202 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of 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 purchasing an additional 215 shares during the period. Cetera Investment Advisers boosted its stake in shares of Wix.com by 18.9% in the 2nd quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after purchasing an additional 295 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Wix.com by 29.5% during the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock worth $1,098,000 after buying an additional 1,580 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.