Wix.com (NASDAQ:WIX) Sets New 1-Year Low – Here’s What Happened

Wix.com Ltd. (NASDAQ:WIX)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $40.51 and last traded at $40.8940, with a volume of 521681 shares changing hands. The stock had previously closed at $41.86.

Wall Street Analysts Forecast Growth

WIX has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Weiss Ratings lowered shares of Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Barclays cut their target price on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Finally, Oppenheimer decreased their price target on Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.75.

Wix.com Stock Performance

The company’s 50-day moving average is $59.62 and its 200-day moving average is $77.43. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -54.62 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data 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 net margin of 1.97% and a negative return on equity of 33.28%. The company had revenue of $541.17 million during the quarter, compared to analyst estimates of $544.04 million. During the same quarter in the previous year, the business posted $1.69 EPS. The company’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that Wix.com Ltd. will post -0.1 EPS for the current year.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Wix.com by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after purchasing an additional 120 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 during the period. Hennion & Walsh Asset Management Inc. increased its stake 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 during the period. TD Private Client Wealth LLC raised its position in shares of Wix.com by 18.7% during the fourth 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 last quarter. Finally, Cerity Partners LLC raised its position in shares of Wix.com by 13.4% during the second 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 last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.