Wix.com Ltd. $WIX Stake Boosted by Senvest Management LLC

Senvest Management LLC lifted its position in Wix.com Ltd. (NASDAQ:WIX) by 24.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,754,680 shares of the information services provider’s stock after acquiring an additional 746,200 shares during the quarter. Wix.com accounts for approximately 11.2% of Senvest Management LLC’s investment portfolio, making the stock its 2nd largest holding. Senvest Management LLC owned approximately 6.44% of Wix.com worth $338,184,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in shares of Wix.com by 52.1% in the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after purchasing an additional 197,200 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Wix.com by 57.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after purchasing an additional 578,729 shares in the last quarter. Sei Investments Co. increased its holdings in Wix.com by 0.8% during the first quarter. Sei Investments Co. now owns 167,565 shares of the information services provider’s stock valued at $15,092,000 after buying an additional 1,259 shares during the period. First Trust Advisors LP increased its holdings in Wix.com by 5.5% during the first quarter. First Trust Advisors LP now owns 469,078 shares of the information services provider’s stock valued at $42,250,000 after buying an additional 24,382 shares during the period. Finally, California Public Employees Retirement System raised its stake in Wix.com by 6.4% in the first quarter. California Public Employees Retirement System now owns 104,711 shares of the information services provider’s stock worth $9,431,000 after buying an additional 6,266 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group reduced their price target on Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, June 10th. Morgan Stanley downgraded Wix.com from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $112.00 to $60.00 in a research report on Tuesday. Scotiabank reiterated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Oppenheimer reduced their target price on shares of Wix.com from $115.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, May 14th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Wix.com currently has an average rating of “Hold” and a consensus target price of $94.10.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $51.41 on Friday. The business’s 50-day moving average is $49.74 and its 200 day moving average is $69.30. Wix.com Ltd. has a 1 year low of $40.16 and a 1 year high of $190.93. The firm has a market capitalization of $3.00 billion, a P/E ratio of -65.91 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations 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 was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 EPS. On average, analysts expect that Wix.com Ltd. will post -0.16 EPS for the current year.

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.