Meitav Investment House Ltd. Boosts Stake in Wix.com Ltd. $WIX

Meitav Investment House Ltd. grew its holdings in shares of Wix.com Ltd. (NASDAQ:WIX) by 108.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,667 shares of the information services provider’s stock after acquiring an additional 95,139 shares during the period. Meitav Investment House Ltd. owned about 0.31% of Wix.com worth $16,452,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WIX. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Wix.com in the fourth quarter worth $4,087,000. Dream Peak Capital Ltd bought a new position in Wix.com during the 4th quarter valued at $1,500,000. Massachusetts Financial Services Co. MA grew its holdings in Wix.com by 70.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider’s stock worth $54,089,000 after acquiring an additional 214,864 shares in the last quarter. Lakehouse Capital Pty Ltd grew its holdings in Wix.com by 43.1% during the 3rd quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock worth $19,269,000 after acquiring an additional 32,686 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Wix.com in the 3rd quarter worth about $2,035,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Trading Up 2.1%

NASDAQ:WIX traded up $1.06 during mid-day trading on Tuesday, hitting $51.27. The stock had a trading volume of 341,380 shares, compared to its average volume of 2,360,968. The company has a 50 day simple moving average of $55.68 and a 200-day simple moving average of $74.32. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -65.69 and a beta of 0.93. Wix.com Ltd. has a 52 week low of $40.16 and a 52 week high of $190.93.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). The firm had revenue of $541.17 million during the quarter, compared to the consensus estimate of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.Wix.com’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company posted $1.69 EPS. As a group, equities research analysts anticipate that Wix.com Ltd. will post -0.17 earnings per share for the current year.

Analyst Ratings Changes

WIX has been the topic of several research reports. Scotiabank restated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Weiss Ratings lowered Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Barclays decreased their price objective on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Bank of America lowered their target price on shares of 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, UBS Group reduced their price target on shares of Wix.com from $68.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $96.75.

Wix.com Profile

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.