BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Position in Wix.com Ltd. $WIX

Key Points

• BNP Paribas Asset Management increased its holding in Wix.com Ltd. by 27.2%, now owning 21,984 shares valued at approximately $3.59 million.
• Wix.com reported a quarterly EPS of $2.28, surpassing analysts' expectations, with revenue growth of 12.4% year-over-year.
• The Board of Wix.com approved a $200 million share repurchase plan, indicating confidence in the stock's value.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Wix.com Ltd. (NASDAQ:WIX - Free Report) by 27.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,984 shares of the information services provider's stock after acquiring an additional 4,698 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Wix.com were worth $3,593,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Procyon Advisors LLC increased its position in Wix.com by 5.1% during the first quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after acquiring an additional 67 shares during the last quarter. Yousif Capital Management LLC increased its position in Wix.com by 4.9% during the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock valued at $299,000 after acquiring an additional 85 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Wix.com by 1.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,424 shares of the information services provider's stock valued at $1,402,000 after acquiring an additional 96 shares during the last quarter. Signaturefd LLC increased its position in Wix.com by 3.3% during the first quarter. Signaturefd LLC now owns 3,402 shares of the information services provider's stock valued at $556,000 after acquiring an additional 109 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Wix.com by 9.9% during the first quarter. Cetera Investment Advisers now owns 1,558 shares of the information services provider's stock valued at $255,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company's stock.

Analysts Set New Price Targets

WIX has been the subject of a number of analyst reports. Raymond James Financial restated a "strong-buy" rating on shares of Wix.com in a research report on Thursday, August 7th. Citigroup restated an "outperform" rating on shares of Wix.com in a research report on Monday. Royal Bank Of Canada reduced their price target on Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Robert W. Baird upgraded Wix.com from a "neutral" rating to an "outperform" rating and reduced their price target for the stock from $215.00 to $190.00 in a research report on Friday, May 23rd. Finally, 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. One research analyst has rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $215.63.

Wix.com Trading Up 3.6%

Shares of Wix.com stock opened at $128.77 on Tuesday. The stock has a 50 day moving average of $148.19 and a 200 day moving average of $166.71. Wix.com Ltd. has a 12 month low of $114.89 and a 12 month high of $247.11. The firm has a market cap of $7.23 billion, a PE ratio of 45.83, a PEG ratio of 2.39 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. During the same period in the prior year, the company earned $1.67 earnings per share. The firm's revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

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

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