Y.D. More Investments Ltd Purchases 15,589 Shares of Wix.com Ltd. (NASDAQ:WIX)

Key Points

• Y.D. More Investments Ltd increased its stake in Wix.com Ltd. by 23.6%, acquiring 15,589 additional shares, bringing its total holdings to 81,756 shares valued at approximately $13.36 million.
• Wix.com has received mixed ratings from analysts, with a consensus rating of "Buy" and an average price target of $227.74, despite some firms lowering their price estimates.
• The company's latest earnings report showed a net revenue increase of 12.4% year-over-year, reporting earnings of $2.28 per share, exceeding analysts' expectations.

Y.D. More Investments Ltd increased its holdings in Wix.com Ltd. (NASDAQ:WIX - Free Report) by 23.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,756 shares of the information services provider's stock after acquiring an additional 15,589 shares during the quarter. Wix.com makes up about 1.2% of Y.D. More Investments Ltd's investment portfolio, making the stock its 21st largest position. Y.D. More Investments Ltd owned approximately 0.15% of Wix.com worth $13,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WIX. LPL Financial LLC raised its position in shares of Wix.com by 24.4% in the 4th quarter. LPL Financial LLC now owns 7,277 shares of the information services provider's stock worth $1,561,000 after acquiring an additional 1,429 shares in the last quarter. Geode Capital Management LLC raised its holdings in Wix.com by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 481,535 shares of the information services provider's stock worth $102,926,000 after purchasing an additional 19,633 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Wix.com in the 4th quarter valued at about $18,448,000. Invesco Ltd. boosted its holdings in shares of Wix.com by 66.0% in the 4th quarter. Invesco Ltd. now owns 57,932 shares of the information services provider's stock valued at $12,429,000 after buying an additional 23,037 shares in the last quarter. Finally, Abacus FCF Advisors LLC purchased a new position in shares of Wix.com in the 4th quarter worth approximately $692,000. 81.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WIX. Cfra Research cut shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday. JMP Securities restated a "market outperform" rating and set a $250.00 target price on shares of Wix.com in a research note on Friday, June 20th. Bank of America decreased their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Finally, Baird R W upgraded Wix.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $227.74.

Wix.com Price Performance

NASDAQ:WIX opened at $128.49 on Thursday. The company has a 50 day moving average price of $152.79 and a 200-day moving average price of $174.11. Wix.com Ltd. has a 1-year low of $126.22 and a 1-year high of $247.11. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 51.19, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.16% and a negative return on equity of 80.80%. The business had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The company's revenue was up 12.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

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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