Wix.com Ltd. (WIX) Sees Large Increase in Short Interest
Wix.com Ltd. (NASDAQ:WIX) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totalling 1,977,985 shares, an increase of 116.3% from the July 31st total of 914,524 shares. Based on an average daily volume of 1,147,153 shares, the days-to-cover ratio is presently 1.7 days. Approximately 5.2% of the shares of the stock are short sold.
Shares of Wix.com (WIX) opened at 64.45 on Friday. Wix.com has a 1-year low of $38.65 and a 1-year high of $86.15. The stock has a 50 day moving average of $64.55 and a 200-day moving average of $69.60. The stock’s market capitalization is $2.93 billion.
Wix.com (NASDAQ:WIX) last released its earnings results on Thursday, July 27th. The information services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. The company had revenue of $103.50 million for the quarter, compared to analyst estimates of $101.93 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. The business’s revenue was up 50.7% on a year-over-year basis. Equities research analysts predict that Wix.com will post $0.24 earnings per share for the current fiscal year.
Several analysts have recently issued reports on the stock. CIBC lifted their target price on shares of Wix.com from $70.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $86.00 target price (up previously from $73.00) on shares of Wix.com in a research report on Thursday, May 11th. Zacks Investment Research upgraded shares of Wix.com from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $88.00 target price (up previously from $70.00) on shares of Wix.com in a research report on Friday, May 12th. Finally, Bank of America Corporation lifted their target price on shares of Wix.com from $70.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $71.81.
Large investors have recently added to or reduced their stakes in the company. Westpac Banking Corp bought a new stake in Wix.com during the first quarter valued at about $137,000. BT Investment Management Ltd bought a new stake in Wix.com during the second quarter valued at about $141,000. Eqis Capital Management Inc. bought a new stake in Wix.com during the second quarter valued at about $207,000. Advisor Group Inc. boosted its stake in Wix.com by 196.5% in the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock valued at $207,000 after buying an additional 1,965 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new stake in Wix.com during the first quarter valued at about $220,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.
Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
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