Wix.com (NASDAQ:WIX) Sets New 1-Year Low – Should You Sell?

Wix.com Ltd. (NASDAQ:WIX)’s stock price reached a new 52-week low on Monday . The stock traded as low as $92.20 and last traded at $92.2550, with a volume of 146904 shares traded. The stock had previously closed at $95.84.

Analyst Upgrades and Downgrades

WIX has been the subject of several research analyst reports. Piper Sandler upped their target price on Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Citizens Jmp reduced their price objective on shares of Wix.com from $210.00 to $185.00 and set a “market outperform” rating on the stock in a report on Thursday, November 20th. Morgan Stanley decreased their target price on Wix.com from $200.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Oppenheimer decreased their target price on Wix.com from $220.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, Evercore ISI lowered their price objective on Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $167.95.

Wix.com Trading Down 2.6%

The company’s 50 day simple moving average is $106.64 and its 200-day simple moving average is $133.23. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 37.62, a PEG ratio of 2.90 and a beta of 1.42.

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently bought and sold shares of WIX. GC Wealth Management RIA LLC acquired a new position in shares of Wix.com in the second quarter valued at about $417,000. Geode Capital Management LLC grew its holdings in Wix.com by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 491,958 shares of the information services provider’s stock worth $77,466,000 after acquiring an additional 12,210 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Wix.com by 34.8% during the second quarter. Schroder Investment Management Group now owns 228,028 shares of the information services provider’s stock worth $36,133,000 after acquiring an additional 58,859 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Wix.com by 28.2% during the second quarter. ARK Investment Management LLC now owns 10,290 shares of the information services provider’s stock worth $1,631,000 after buying an additional 2,266 shares during the period. Finally, Liontrust Investment Partners LLP bought a new stake in shares of Wix.com during the 2nd quarter valued at about $3,708,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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.