Wix.com Ltd. (NASDAQ:WIX) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 101.1% to 9,216,647 shares as of March 31, representing about 16.8% of the float and a short-interest ratio of 3.1 days based on average daily volume.
• Analyst sentiment is mixed but leans positive with an average rating of "Moderate Buy" and an average price target of $128.45, though several firms have recently downgraded the stock and cut targets.
• Wix beat quarterly EPS estimates but slightly missed revenue, announced a $2.0 billion share repurchase authorization (up to ~40.5% of shares), and the stock trades near $65 with a one‑year range of $60.22–$191.24.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 9,216,647 shares, an increase of 101.1% from the March 15th total of 4,583,517 shares. Approximately 16.8% of the shares of the company are short sold. Based on an average daily trading volume, of 3,015,704 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler assumed coverage on Wix.com in a research report on Thursday, March 12th. They issued a "neutral" rating and a $98.00 price target on the stock. Zacks Research raised Wix.com from a "strong sell" rating to a "hold" rating in a research report on Friday, January 30th. UBS Group downgraded Wix.com from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $145.00 to $96.00 in a research report on Thursday, April 2nd. Robert W. Baird downgraded Wix.com from an "outperform" rating to a "neutral" rating and dropped their price target for the stock from $115.00 to $90.00 in a research report on Monday, March 9th. Finally, Barclays dropped their price target on Wix.com from $160.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of "Moderate Buy" and an average price target of $128.45.

Institutional Trading of Wix.com

Large investors have recently bought and sold shares of the stock. Westside Investment Management Inc. grew its position in Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider's stock valued at $27,000 after acquiring an additional 77 shares during the period. Farther Finance Advisors LLC grew its position in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider's stock valued at $25,000 after acquiring an additional 132 shares during the period. Geneos Wealth Management Inc. grew its position in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock valued at $41,000 after acquiring an additional 215 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Wix.com in the fourth quarter valued at $27,000. Finally, National Bank of Canada FI bought a new stake in Wix.com in the third quarter valued at $54,000. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Down 3.8%

WIX opened at $65.13 on Friday. The stock has a market cap of $3.80 billion, a PE ratio of 80.41, a P/E/G ratio of 2.24 and a beta of 1.26. Wix.com has a 1 year low of $60.22 and a 1 year high of $191.24. The stock's 50 day simple moving average is $79.77 and its 200-day simple moving average is $103.58.

Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.45. The business had revenue of $524.27 million for the quarter, compared to analysts' expectations of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.Wix.com's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 earnings per share. Equities analysts forecast that Wix.com will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company's software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.

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