Wix.com (NASDAQ:WIX) Hits New 1-Year Low – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $66.66 and last traded at $67.8070, with a volume of 72566 shares changing hands. The stock had previously closed at $69.23.

Analysts Set New Price Targets

WIX has been the subject of several research analyst reports. Royal Bank Of Canada set a $70.00 target price on shares of Wix.com in a research note on Wednesday, January 7th. Evercore lowered their price objective on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Benchmark dropped their price target on Wix.com from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Citizens Jmp decreased their price objective on Wix.com from $185.00 to $125.00 and set a “market outperform” rating for the company in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $161.30.

Wix.com Stock Performance

The stock has a market cap of $3.74 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.11 and a beta of 1.42. The firm has a 50-day moving average price of $90.18 and a 200-day moving average price of $119.95.

Wix.com announced that its Board of Directors has authorized a stock buyback plan on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC increased its holdings in Wix.com by 43.3% in the 4th quarter. Corient Private Wealth LLC now owns 6,541 shares of the information services provider’s stock worth $680,000 after buying an additional 1,978 shares in the last quarter. Alberta Investment Management Corp purchased a new position in shares of Wix.com during the fourth quarter valued at approximately $1,039,000. Mackenzie Financial Corp raised its holdings in shares of Wix.com by 61.2% during the fourth quarter. Mackenzie Financial Corp now owns 16,773 shares of the information services provider’s stock valued at $1,731,000 after purchasing an additional 6,366 shares during the last quarter. Sphera Management Technology Funds Ltd lifted its position in Wix.com by 92.3% during the fourth quarter. Sphera Management Technology Funds Ltd now owns 25,000 shares of the information services provider’s stock valued at $2,597,000 after purchasing an additional 12,000 shares during the period. Finally, Numerai GP LLC purchased a new stake in Wix.com in the fourth quarter worth approximately $1,285,000. 81.52% of the stock is 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.