Candlestick Capital Management LP Buys New Shares in Wix.com Ltd. $WIX

Candlestick Capital Management LP purchased a new position in Wix.com Ltd. (NASDAQ:WIX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 42,524 shares of the information services provider’s stock, valued at approximately $7,554,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WIX. Westside Investment Management Inc. raised its holdings in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Wix.com by 0.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,837 shares of the information services provider’s stock valued at $3,524,000 after buying an additional 154 shares during the period. Cerity Partners LLC grew its stake in shares of Wix.com by 13.4% in the 2nd 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 during the period. MAI Capital Management increased its position in Wix.com by 109.1% in the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock valued at $65,000 after buying an additional 191 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in Wix.com by 32.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 792 shares of the information services provider’s stock worth $141,000 after buying an additional 195 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Stock Performance

WIX stock opened at $88.09 on Friday. The business has a 50-day simple moving average of $81.63 and a two-hundred day simple moving average of $114.26. The company has a market capitalization of $5.14 billion, a P/E ratio of 108.75, a price-to-earnings-growth ratio of 2.83 and a beta of 1.39. Wix.com Ltd. has a 52-week low of $60.22 and a 52-week high of $191.24.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping 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 firm had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. During the same period in the prior year, the business posted $2.10 earnings per share. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Wix.com Ltd. will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada decreased their price objective on Wix.com from $155.00 to $112.00 and set an “outperform” rating for the company in a report on Thursday, March 5th. Citizens Jmp lowered their target price on Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Evercore cut their target price on Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Benchmark decreased their price target on shares of Wix.com from $185.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.90.

Wix.com 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.