Wix.com (NASDAQ:WIX) Trading Up 8% – Should You Buy?

Shares of Wix.com Ltd. (NASDAQ:WIX) traded up 8% during mid-day trading on Wednesday . The company traded as high as $48.99 and last traded at $49.0160. Approximately 232,542 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,390,015 shares. The stock had previously closed at $45.37.

Analysts Set New Price Targets

A number of equities analysts recently commented on WIX shares. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Wix.com in a report on Monday, June 15th. Morgan Stanley dropped their price objective on Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Robert W. Baird cut Wix.com from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $115.00 to $90.00 in a research report on Monday, March 9th. Bank of America reduced their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Finally, Benchmark reissued a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.75.

Wix.com Trading Up 1.0%

The firm has a market cap of $2.88 billion, a price-to-earnings ratio of -63.27 and a beta of 0.93. The stock’s 50 day moving average is $56.66 and its 200 day moving average is $75.03.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) 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 company had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. During the same quarter last year, the business earned $1.69 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts predict that Wix.com Ltd. will post -0.17 EPS for the current year.

Institutional Trading of Wix.com

Several institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Wix.com by 7.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after buying an additional 120 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Wix.com by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after buying an additional 132 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Wix.com by 2.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock valued at $693,000 after buying an additional 142 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Wix.com by 18.7% during the 4th quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock worth $98,000 after acquiring an additional 148 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Wix.com by 13.4% during the 2nd quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after acquiring an additional 175 shares during the period. 81.52% of the stock is currently owned by institutional investors.

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.