Wix.com (NASDAQ:WIX) Reaches New 52-Week Low – Here’s What Happened

Wix.com Ltd. (NASDAQ:WIX) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $42.54 and last traded at $42.2730, with a volume of 942935 shares. The stock had previously closed at $44.54.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WIX shares. Citigroup cut their target price on Wix.com from $66.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. JPMorgan Chase & Co. dropped their price objective on shares of Wix.com from $86.00 to $62.00 and set an “underweight” rating for the company in a research note on Thursday. Benchmark reiterated a “buy” rating on shares of Wix.com in a research report on Tuesday, June 9th. Citizens Jmp downgraded shares of Wix.com from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, April 7th. Finally, Jefferies Financial Group lowered their target price on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $96.75.

Wix.com Price Performance

The stock has a market capitalization of $2.48 billion, a PE ratio of -54.47 and a beta of 0.91. The firm has a fifty day moving average price of $61.72 and a two-hundred day moving average price of $79.04.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. Wix.com’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. On average, research analysts expect that Wix.com Ltd. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WIX. Farther Finance Advisors LLC raised its holdings in shares of 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 in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com during the 4th quarter valued at $27,000. Geneos Wealth Management Inc. raised its stake 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 buying an additional 215 shares during the last quarter. Employees Retirement System of Texas raised its position in shares of Wix.com by 129.9% in the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 252 shares during the last quarter. Finally, Banque Cantonale Vaudoise increased its stake in Wix.com by 464.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 409 shares in the last quarter. Hedge funds and other 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.