Wix.com (NASDAQ:WIX) Sets New 12-Month Low – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX) shares hit a new 52-week low on Friday . The stock traded as low as $51.33 and last traded at $52.2230, with a volume of 499637 shares trading hands. The stock had previously closed at $53.70.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WIX. Morgan Stanley lowered 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 note on Monday, May 18th. UBS Group reaffirmed a “neutral” rating and issued a $68.00 price target on shares of Wix.com in a report on Thursday, May 14th. Barclays decreased their price target 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. Needham & Company LLC decreased their price target on shares of Wix.com from $115.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Citigroup cut shares of Wix.com from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $66.00 in a report on Thursday, May 14th. One investment 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 given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $100.90.

Wix.com Price Performance

The stock’s fifty day simple moving average is $69.79 and its 200-day simple moving average is $83.01. The firm has a market cap of $3.09 billion, a PE ratio of -67.96 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. During the same period last year, the business earned $1.69 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts expect that Wix.com Ltd. will post -0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WIX. Farther Finance Advisors LLC raised its holdings in shares of Wix.com by 122.2% during the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares during the last quarter. Westside Investment Management Inc. raised its holdings in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Wix.com during the fourth quarter worth $27,000. Geneos Wealth Management Inc. raised its holdings in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares during the last quarter. Finally, Employees Retirement System of Texas raised its holdings in shares of Wix.com by 129.9% during the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after purchasing an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company 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.