Wix.com (NASDAQ:WIX) Shares Gap Down – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX)’s share price gapped down prior to trading on Monday . The stock had previously closed at $52.39, but opened at $47.71. Wix.com shares last traded at $49.37, with a volume of 764,785 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on WIX shares. Citigroup lowered Wix.com from a “buy” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $66.00 in a report on Thursday, May 14th. JPMorgan Chase & Co. lowered their target price on Wix.com from $91.00 to $86.00 and set an “underweight” rating on the stock in a report on Wednesday, May 13th. Piper Sandler started coverage on Wix.com in a report on Thursday, March 12th. They issued a “neutral” rating and a $98.00 target price on the stock. Bank of America lowered their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Wix.com in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.90.

Wix.com Stock Down 4.7%

The business has a 50 day moving average of $69.06 and a 200 day moving average of $82.50. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -64.10 and a beta of 0.92.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. During the same quarter last year, the company posted $1.69 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Wix.com by 122.2% during the fourth 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 period. Geneos Wealth Management Inc. lifted its position in Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Wix.com during the fourth quarter worth about $27,000. National Bank of Canada FI purchased a new position in Wix.com during the third quarter worth about $54,000. Finally, MAI Capital Management lifted its position in Wix.com by 109.1% during the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after buying an additional 191 shares during the period. 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.