Wix.com Target of Unusually High Options Trading (NASDAQ:WIX)

Wix.com Ltd. (NASDAQ:WIX) was the target of unusually large options trading on Thursday. Stock investors acquired 3,046 call options on the stock. This represents an increase of 84% compared to the typical daily volume of 1,654 call options.

Institutional Trading of Wix.com

A number of hedge funds have recently made changes to their positions in WIX. International Assets Investment Management LLC bought a new position in shares of Wix.com during the 4th quarter worth approximately $1,513,000. Van ECK Associates Corp grew its holdings in Wix.com by 7.1% during the 4th quarter. Van ECK Associates Corp now owns 15,531 shares of the information services provider’s stock worth $1,911,000 after acquiring an additional 1,028 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Wix.com by 11.6% in the fourth quarter. Victory Capital Management Inc. now owns 14,102 shares of the information services provider’s stock worth $1,735,000 after acquiring an additional 1,462 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Wix.com by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock valued at $1,350,000 after purchasing an additional 214 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in Wix.com in the 4th quarter valued at $524,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WIX. KeyCorp assumed coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Citigroup boosted their price target on Wix.com from $175.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. UBS Group boosted their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Piper Sandler restated a “neutral” rating and issued a $184.00 target price on shares of Wix.com in a research note on Thursday, August 8th. Finally, Jefferies Financial Group raised their price objective on shares of Wix.com from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $189.19.

Wix.com Price Performance

Shares of WIX stock opened at $159.58 on Friday. The business has a fifty day moving average of $160.84 and a 200 day moving average of $148.46. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 139.98, a price-to-earnings-growth ratio of 3.70 and a beta of 1.47. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, equities research analysts expect that Wix.com will post 2.01 earnings per share for the current year.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.