Short Interest in Wix.com Ltd. (NASDAQ:WIX) Increases By 21.5%

Wix.com Ltd. (NASDAQ:WIX) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 3,160,000 shares, an increase of 21.5% from the August 15th total of 2,600,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 2.3 days. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is presently 2.3 days. Currently, 5.9% of the company’s shares are sold short.

Analyst Ratings Changes

Several brokerages have weighed in on WIX. Barclays set a $235.00 price target on Wix.com and gave the company an “overweight” rating in a report on Thursday, August 7th. Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a report on Thursday, August 7th. Cfra Research upgraded Wix.com from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 12th. Scotiabank set a $255.00 price target on Wix.com and gave the company a “sector outperform” rating in a report on Thursday, August 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $210.00 price target on shares of Wix.com in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Wix.com currently has an average rating of “Buy” and an average price target of $215.63.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Twin Tree Management LP purchased a new position in shares of Wix.com in the 1st quarter valued at $29,000. Geneos Wealth Management Inc. increased its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the period. Blue Trust Inc. increased its stake in Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after buying an additional 132 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Wix.com during the 2nd quarter worth $77,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Up 1.3%

NASDAQ:WIX opened at $183.30 on Friday. The company has a market cap of $10.28 billion, a P/E ratio of 65.23, a P/E/G ratio of 3.48 and a beta of 1.30. Wix.com has a fifty-two week low of $114.89 and a fifty-two week high of $247.11. The firm’s 50 day moving average is $144.17 and its two-hundred day moving average is $157.05.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same quarter last year, the firm posted $1.67 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Research analysts forecast that Wix.com will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

About Wix.com

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.