Wix.com (NASDAQ:WIX) Given New $71.00 Price Target at Citigroup

Wix.com (NASDAQ:WIX) had its price objective reduced by Citigroup from $72.00 to $71.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

WIX has been the topic of several other reports. UBS Group set a $110.00 price objective on shares of Wix.com in a research report on Monday, October 26th. Wedbush reduced their target price on shares of Wix.com from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday. Weiss Ratings upgraded shares of Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. JPMorgan Chase & Co. decreased their target price on shares of Wix.com from $62.00 to $59.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC raised their price target on Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $89.52.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $68.34 on Wednesday. The business has a 50-day moving average price of $76.48 and a 200 day moving average price of $70.22. Wix.com has a 52-week low of $40.16 and a 52-week high of $135.00.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.54%. The company had revenue of $570.17 million for the quarter, compared to analyst estimates of $566.27 million. During the same quarter in the previous year, the company posted $1.80 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that Wix.com will post 0.24 EPS for the current fiscal year.

Insider Transactions at Wix.com

In other news, insider Shelly B. Meyer sold 479 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total value of $45,505.00. Following the sale, the insider directly owned 183,010 shares in the company, valued at $17,385,950. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lior Shemesh purchased 456 shares of the company’s stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $59.89 per share, with a total value of $27,309.84. Following the transaction, the chief financial officer directly owned 221,567 shares of the company’s stock, valued at $13,269,647.63. This represents a 0.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,622 shares of company stock worth $157,032 in the last 90 days. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WIX. Senvest Management LLC raised its stake in shares of Wix.com by 24.8% in 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 acquiring an additional 746,200 shares during the period. Hsbc Holdings PLC increased its holdings in Wix.com by 11,894.0% in the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Wix.com by 57.5% in 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 during the period. OMERS ADMINISTRATION Corp raised its position in Wix.com by 7,102.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock valued at $62,623,000 after purchasing an additional 685,614 shares during the period. Finally, Renaissance Technologies LLC raised its position in Wix.com by 52.1% in the first quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock valued at $51,885,000 after purchasing an additional 197,200 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

More Wix.com News

Here’s some of the latest news about WIX:

• Positive Sentiment: Base44, Wix’s AI website-building business, reached nearly $250 million in annual recurring revenue within two years of its acquisition, with a third-quarter non-GAAP gross margin close to 60%. Wix also unveiled Studio Two, an AI-native website-creation offering that could expand its product portfolio. Base44 and Q3 takeaways Studio Two announcement
• Negative Sentiment: The main concern is Wix’s lower cash-flow-margin outlook, attributed to increased marketing investment, including spending on AI. Coverage also flagged slower growth in the core business, tempering the strong Base44 expansion. Cash-flow outlook and AI spending Base44 growth and core sales
• Negative Sentiment: Several firms took a more cautious stance: Bank of America downgraded WIX to Underperform, while JPMorgan, RBC, and Wells Fargo lowered their price targets. These moves signal concern about valuation and near-term execution despite the earnings beat. Analyst downgrades Wells Fargo target update

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.