Wix.com (NASDAQ:WIX) Shares Up 6.7% - Here's What Happened

Key Points

• Wix.com shares rose 6.7% to approximately $54.86 in Monday trading, although volume was about 92% below the daily average.
• Analyst views remain mixed: MarketBeat reports a consensus “Hold” rating and a $94.10 price target, following several recent downgrades and target-price cuts.
• Wix missed quarterly earnings expectations, reporting $0.68 in EPS versus the $1.21 consensus estimate, while revenue increased 14.2% year over year to $541.17 million; institutional investors own 81.52% of the stock.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report)'s stock price traded up 6.7% during trading on Monday . The stock traded as high as $54.89 and last traded at $54.8580. Approximately 169,314 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 2,244,132 shares. The stock had previously closed at $51.41.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Wix.com from $60.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Tuesday, June 9th. Morgan Stanley downgraded shares of Wix.com from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $112.00 to $60.00 in a report on Tuesday, July 21st. Wells Fargo & Company dropped their target price on Wix.com from $47.00 to $46.00 and set an "equal weight" rating on the stock in a report on Thursday, July 16th. Needham & Company LLC reissued a "buy" rating and issued a $80.00 price objective on shares of Wix.com in a research report on Monday, June 15th. Finally, Scotiabank restated an "outperform" rating on shares of Wix.com in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $94.10.

Wix.com Stock Up 9.5%

The firm has a market capitalization of $3.28 billion, a P/E ratio of -72.05 and a beta of 0.93. The firm has a 50 day moving average of $49.74 and a 200-day moving average of $69.08.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.53). Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The company had revenue of $541.17 million during the quarter, compared to the consensus estimate of $544.04 million. During the same quarter in the previous year, the business posted $1.69 EPS. The firm's revenue for the quarter was up 14.2% on a year-over-year basis. As a group, research analysts expect that Wix.com Ltd. will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WIX. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Wix.com by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider's stock valued at $172,000 after purchasing an additional 120 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider's stock worth $25,000 after buying an additional 132 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Wix.com by 2.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider's stock worth $693,000 after buying an additional 142 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Wix.com by 18.7% in the fourth quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider's stock valued at $98,000 after buying an additional 148 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Wix.com by 13.4% in the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider's stock valued at $235,000 after buying an additional 175 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

About Wix.com

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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