Wix.com (NASDAQ:WIX) Stock Price Breaks Above 50-Day Moving Average - Should You Sell?

Key Points

• Wix shares moved above their 50-day moving average, trading as high as $81.03 and last at $80.52, compared with a 50-day average of $78.02.
• Analysts have a consensus Hold rating and an average price target of $93.43; 11 rate the stock Buy, 10 Hold, and two Sell.
• In its latest reported quarter, Wix beat earnings and revenue expectations, posting EPS of $1.39 versus $1.13 expected and revenue of $563.06 million, up 14.9% year over year.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report)'s share price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $78.02 and traded as high as $81.03. Wix.com shares last traded at $80.52, with a volume of 718,952 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WIX. Evercore set a $95.00 target price on Wix.com in a research note on Tuesday, August 4th. Benchmark reiterated a "buy" rating on shares of Wix.com in a research note on Wednesday, August 26th. Wedbush increased their price target on Wix.com from $55.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, August 20th. Citigroup reissued a "neutral" rating on shares of Wix.com in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada boosted their price target on Wix.com from $45.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $93.43.

Wix.com Trading Up 7.8%

The firm has a 50-day simple moving average of $78.02 and a two-hundred day simple moving average of $70.49. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -22.75, a P/E/G ratio of 35.51 and a beta of 1.06.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. The business had revenue of $563.06 million during the quarter, compared to analysts' expectations of $552.56 million. During the same quarter in the previous year, the firm posted $2.28 EPS. The company's revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that Wix.com Ltd. will post 0.24 EPS for the current year.

Insider Activity at Wix.com

In related news, CFO Lior Shemesh purchased 456 shares of the firm's stock in a transaction on Monday, August 31st. The stock was bought at an average cost of $59.89 per share, with a total value of $27,309.84. Following the completion of the acquisition, the chief financial officer owned 221,567 shares of the company's stock, valued at $13,269,647.63. The trade was a 0.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Omer Shai acquired 490 shares of the stock in a transaction on Monday, August 31st. The stock was bought at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the transaction, the chief marketing officer owned 515,879 shares in the company, valued at approximately $30,895,993.31. This represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,622 shares of company stock valued at $157,032 in the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in shares of Wix.com by 11,894.0% during the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider's stock worth $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Senvest Management LLC grew its position in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider's stock valued at $338,184,000 after acquiring an additional 746,200 shares during the period. OMERS ADMINISTRATION Corp increased its stake in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider's stock valued at $62,623,000 after purchasing an additional 685,614 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider's stock valued at $142,848,000 after purchasing an additional 578,729 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Wix.com by 52.1% in the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider's stock valued at $51,885,000 after purchasing an additional 197,200 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.

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