Wix.com Ltd. (NASDAQ:WIX) Stock Now Rated “Hold” by Wall Street Brokerages

Wix.com Ltd. (NASDAQ:WIX) has earned a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $91.29.

A number of analysts have weighed in on WIX shares. Benchmark reissued a “buy” rating on shares of Wix.com in a report on Wednesday, August 26th. Raymond James Financial lowered shares of Wix.com from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $75.00 to $70.00 in a report on Thursday, July 30th. Cantor Fitzgerald boosted their price objective on shares of Wix.com from $65.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Finally, Scotiabank restated an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th.

Insider Activity at Wix.com

In other news, insider Shelly B. Meyer sold 479 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total transaction of $45,505.00. Following the completion of the transaction, the insider owned 183,010 shares of the company’s stock, valued at approximately $17,385,950. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ron Gutler sold 5,718 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.42, for a total transaction of $488,431.56. Following the transaction, the director owned 15,631 shares of the company’s stock, valued at $1,335,200.02. This represents a 26.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have acquired 2,622 shares of company stock valued at $157,032. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its position in Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after purchasing an additional 3,500,047 shares during the period. Atreides Management LP acquired a new position in shares of Wix.com during the 4th quarter valued at $129,598,000. Senvest Management LLC increased its position in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after purchasing an additional 746,200 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after buying an additional 685,614 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Wix.com in the 4th quarter worth $68,293,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ:WIX opened at $73.35 on Friday. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of -20.72, a price-to-earnings-growth ratio of 34.28 and a beta of 1.02. Wix.com has a one year low of $40.16 and a one year high of $160.74. The stock has a 50-day simple moving average of $73.97 and a 200 day simple moving average of $66.73.

Wix.com (NASDAQ:WIX) last issued its earnings results on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%.The company had revenue of $563.06 million during the quarter, compared to analyst estimates of $552.56 million. During the same quarter last year, the firm earned $2.28 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that Wix.com will post 0.24 EPS for the current fiscal year.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based web development and digital services company that enables individuals, entrepreneurs and businesses to create, manage and grow an online presence. Its platform provides no-code and low-code tools, professionally designed templates, drag-and-drop editing, artificial intelligence features, website hosting, domain registration and related business solutions.

In addition to its core website builder, Wix offers tools for e-commerce, online payments, bookings, events, restaurants, marketing, customer relationship management and business analytics.