Wix.com (NASDAQ:WIX) Reaches New 12-Month Low – What’s Next?

Shares of Wix.com Ltd. (NASDAQ:WIX) hit a new 52-week low during trading on Tuesday . The stock traded as low as $75.00 and last traded at $77.7720, with a volume of 557929 shares trading hands. The stock had previously closed at $80.16.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WIX shares. Cantor Fitzgerald increased their price target on Wix.com from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, December 11th. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Needham & Company LLC dropped their price target on Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Wells Fargo & Company reduced their price objective on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a research report on Friday, December 19th. Finally, Piper Sandler raised their target price on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $166.95.

Wix.com Price Performance

The firm has a market cap of $4.31 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.42. The company’s 50-day simple moving average is $102.42 and its 200 day simple moving average is $131.00.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in Wix.com by 128.3% during the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP grew its holdings in Wix.com by 90.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after purchasing an additional 1,609,989 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in Wix.com in the 2nd quarter worth about $342,485,000. Acadian Asset Management LLC lifted its stake in Wix.com by 0.4% in the second quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider’s stock worth $335,852,000 after purchasing an additional 7,729 shares during the last quarter. Finally, Senvest Management LLC grew its stake in shares of Wix.com by 32.2% during the second quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock valued at $323,403,000 after buying an additional 496,770 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other 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.