Menora Mivtachim Holdings LTD. Buys New Holdings in Wix.com Ltd. $WIX

Key Points

• Menora Mivtachim Holdings LTD. has invested approximately $26.74 million in Wix.com by purchasing 163,647 shares, representing 0.29% ownership in the company.
• Analysts have mixed views on Wix.com, with a range of price targets, including a reduction by Royal Bank of Canada from $245 to $210 and a raise by Cfra Research from "hold" to "moderate buy."
• Wix.com reported better-than-expected earnings with $2.28 EPS for the quarter, surpassing estimates, and has authorized a $200 million share buyback plan as a sign of confidence in its valuation.

Menora Mivtachim Holdings LTD. acquired a new position in Wix.com Ltd. (NASDAQ:WIX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 163,647 shares of the information services provider's stock, valued at approximately $26,737,000. Menora Mivtachim Holdings LTD. owned 0.29% of Wix.com at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. TD Private Client Wealth LLC lifted its position in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after buying an additional 308 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Wix.com during the first quarter valued at about $110,000. ASR Vermogensbeheer N.V. purchased a new stake in shares of Wix.com during the first quarter valued at about $115,000. Versant Capital Management Inc lifted its position in shares of Wix.com by 676.1% during the first quarter. Versant Capital Management Inc now owns 714 shares of the information services provider's stock valued at $117,000 after buying an additional 622 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Wix.com by 1,101.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the information services provider's stock valued at $126,000 after buying an additional 705 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer decreased their price target on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Raymond James Financial reissued a "strong-buy" rating on shares of Wix.com in a research report on Thursday, August 7th. Baird R W raised shares of Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Needham & Company LLC decreased their price objective on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Wix.com in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $215.63.

Wix.com Price Performance

WIX traded down $2.9170 during trading on Thursday, reaching $124.0030. 269,930 shares of the company's stock were exchanged, compared to its average volume of 966,293. Wix.com Ltd. has a 1 year low of $114.89 and a 1 year high of $247.11. The stock has a market capitalization of $6.96 billion, a P/E ratio of 44.16, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27. The company's fifty day simple moving average is $146.98 and its 200-day simple moving average is $166.16.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. During the same period last year, the firm posted $1.67 EPS. Wix.com's revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts forecast that Wix.com Ltd. will post 3.65 EPS for the current year.

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

Wix.com Company Profile

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.