2,140 Shares in Wix.com Ltd. $WIX Bought by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC purchased 2,140 shares of Wix.com Ltd. for approximately $339,000 in Q2, contributing to a trend of increased institutional investment in the company.
• Wix.com reported an earnings per share (EPS) of $2.28, beating consensus estimates and reflecting a 12.4% increase in revenue year-over-year during the recent quarter.
• Analyst ratings for Wix.com show a consensus "Buy" rating with an average price target of $216.16, suggesting continued positive sentiment toward the stock's future performance.

Counterpoint Mutual Funds LLC acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,140 shares of the information services provider's stock, valued at approximately $339,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock worth $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP acquired a new position in Wix.com during the 1st quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares during the period. TD Private Client Wealth LLC boosted its position in Wix.com by 183.3% during the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock worth $78,000 after acquiring an additional 308 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Wix.com by 28.4% during the 1st quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider's stock worth $81,000 after acquiring an additional 109 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of analyst reports. Scotiabank set a $255.00 price target on Wix.com and gave the stock a "sector outperform" rating in a research report on Thursday, August 7th. Wall Street Zen lowered Wix.com from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Royal Bank Of Canada reiterated an "outperform" rating and set a $210.00 price target on shares of Wix.com in a research report on Tuesday, August 19th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company upgraded Wix.com from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $173.00 to $216.00 in a report on Monday, June 16th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Wix.com has a consensus rating of "Buy" and an average target price of $216.16.

Wix.com Stock Up 2.0%

Shares of NASDAQ WIX opened at $181.46 on Thursday. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 64.58, a P/E/G ratio of 3.42 and a beta of 1.30. The business has a fifty day simple moving average of $146.65 and a 200-day simple moving average of $156.82.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. During the same period in the prior year, the business posted $1.67 earnings per share. Wix.com's revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.

Wix.com announced that its Board of Directors has approved a stock repurchase plan on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

About Wix.com

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.