Wix.com (NASDAQ:WIX) Downgraded to Market Perform Rating by Citizens Jmp

Key Points

• Citizens Jmp downgraded Wix from "outperform" to "market perform," and several analysts have cut price targets recently; the consensus rating remains a Moderate Buy with an average price target of $128.70.
• Wix beat Q4 EPS estimates ($1.81 vs. $1.36) but slightly missed revenue expectations ($524.3M), while the stock trades near $84 with a high P/E (~104) and a wide 12‑month range ($60.22–$191.24), reflecting mixed fundamentals and valuation concerns.
• The board authorized a $2.0 billion share repurchase program, permitting buybacks of up to 40.5% of outstanding shares, signaling management believes the stock may be undervalued.

Wix.com (NASDAQ:WIX - Get Free Report) was downgraded by analysts at Citizens Jmp from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Tuesday.

WIX has been the topic of several other reports. Scotiabank dropped their price objective on Wix.com from $175.00 to $125.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 5th. Citigroup dropped their price objective on Wix.com from $150.00 to $105.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Oppenheimer dropped their price objective on Wix.com from $160.00 to $130.00 and set an "outperform" rating on the stock in a research report on Monday, February 2nd. JPMorgan Chase & Co. cut Wix.com from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $114.00 to $91.00 in a research report on Friday, March 27th. Finally, Wells Fargo & Company dropped their price objective on Wix.com from $176.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.70.

Wix.com Trading Up 2.8%

NASDAQ WIX opened at $84.25 on Tuesday. Wix.com has a 12 month low of $60.22 and a 12 month high of $191.24. The stock has a market cap of $4.91 billion, a P/E ratio of 104.01, a P/E/G ratio of 2.82 and a beta of 1.26. The stock's fifty day moving average price is $81.16 and its 200-day moving average price is $106.11.

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

Wix.com declared that its board has authorized a share repurchase plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WIX. Farther Finance Advisors LLC lifted its holdings 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. Westside Investment Management Inc. lifted its holdings 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. Flagship Harbor Advisors LLC bought a new position in Wix.com in the fourth quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its holdings 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. Finally, Employees Retirement System of Texas lifted its holdings in Wix.com by 129.9% in the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider's stock valued at $46,000 after acquiring an additional 252 shares during the period. Institutional investors own 81.52% of the company's stock.

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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