Wix.com Ltd. (NASDAQ:WIX) Sees Large Decrease in Short Interest

Wix.com Ltd. (NASDAQ:WIX) saw a significant decrease in short interest in March. As of March 13th, there was short interest totaling 4,583,517 shares, a decrease of 17.2% from the February 26th total of 5,533,285 shares. Currently, 8.4% of the shares of the company are sold short. Based on an average trading volume of 3,139,208 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price target on Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Barclays reduced their price objective on Wix.com from $205.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Weiss Ratings lowered Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Robert W. Baird downgraded shares of Wix.com from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $115.00 to $90.00 in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.15.

Wix.com Stock Performance

NASDAQ:WIX opened at $87.14 on Monday. Wix.com has a 12 month low of $60.22 and a 12 month high of $191.24. The firm’s 50 day moving average is $80.81 and its 200 day moving average is $109.90. The stock has a market capitalization of $5.08 billion, a PE ratio of 107.58, a price-to-earnings-growth ratio of 2.86 and a beta of 1.40.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The business had revenue of $524.27 million during the quarter, compared to analyst estimates of $527.69 million. During the same period in the prior year, the company earned $2.10 earnings per share. Wix.com’s revenue was up 13.9% compared to the same quarter last year. Research analysts predict that Wix.com will post 3.65 earnings per share for the current year.

Wix.com declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 28th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 40.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Wix.com

Several large investors have recently added to or reduced their stakes in WIX. AQR Capital Management LLC lifted its holdings in Wix.com by 36.6% during the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after purchasing an additional 436 shares during the last quarter. Woodline Partners LP boosted its position in Wix.com by 9.7% during the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after purchasing an additional 202 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Wix.com by 632.4% in 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 in the last quarter. Cetera Investment Advisers increased its stake in shares of Wix.com by 18.9% in the second quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock worth $294,000 after purchasing an additional 295 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Wix.com by 29.5% in the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after purchasing an additional 1,580 shares during the period. 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.