Short Interest in Wix.com Ltd. (NASDAQ:WIX) Rises By 22.2%

Wix.com Ltd. (NASDAQ:WIX) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 5,566,083 shares, an increase of 22.2% from the December 15th total of 4,553,515 shares. Approximately 10.6% of the company’s stock are short sold. Based on an average daily trading volume, of 1,010,174 shares, the days-to-cover ratio is presently 5.5 days. Based on an average daily trading volume, of 1,010,174 shares, the days-to-cover ratio is presently 5.5 days. Approximately 10.6% of the company’s stock are short sold.

Wix.com Stock Performance

Shares of WIX stock opened at $80.16 on Monday. Wix.com has a fifty-two week low of $80.06 and a fifty-two week high of $247.11. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.53 and a beta of 1.42. The stock’s 50-day simple moving average is $103.44 and its 200-day simple moving average is $131.59.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WIX. Weiss Ratings restated a “hold (c)” rating on shares of Wix.com in a report on Wednesday, October 8th. Scotiabank reduced their price target on Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 20th. Royal Bank Of Canada set a $70.00 price objective on Wix.com in a research report on Wednesday, January 7th. Evercore ISI reduced their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Finally, Barclays decreased their price target on shares of Wix.com from $235.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.95.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Westside Investment Management Inc. grew 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 valued at $27,000 after buying an additional 77 shares during the last quarter. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 215 shares during the period. National Bank of Canada FI purchased a new stake in Wix.com during the 3rd quarter valued at about $54,000. Blue Trust Inc. increased its holdings in shares of Wix.com by 47.8% in the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 132 shares during the period. Finally, MAI Capital Management raised its stake in shares of Wix.com by 109.1% in the third quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after purchasing an additional 191 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.