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

Wix.com Ltd. (NASDAQ:WIX) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 1,150,000 shares, a decrease of 27.2% from the March 15th total of 1,580,000 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average trading volume of 563,600 shares, the short-interest ratio is presently 2.0 days.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently bought and sold shares of WIX. Bank of New York Mellon Corp raised its stake in Wix.com by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock valued at $31,669,000 after buying an additional 23,843 shares in the last quarter. US Bancorp DE grew its holdings in shares of Wix.com by 39.7% during the first quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock worth $290,000 after purchasing an additional 791 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Wix.com by 58.1% during the first quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock worth $4,982,000 after purchasing an additional 17,530 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Wix.com during the first quarter worth about $346,000. Finally, Ergoteles LLC grew its holdings in shares of Wix.com by 388.6% during the first quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock worth $4,609,000 after purchasing an additional 35,091 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WIX shares. StockNews.com cut Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. Piper Sandler upped their price target on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Benchmark upped their price target on Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. JMP Securities upped their price target on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. Finally, B. Riley upped their price target on Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Wix.com Price Performance

Wix.com stock opened at $131.41 on Friday. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The stock has a market cap of $7.31 billion, a PE ratio of 238.93, a P/E/G ratio of 4.64 and a beta of 1.33. The stock’s fifty day moving average is $135.27 and its two-hundred day moving average is $114.61.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. During the same period last year, the firm earned ($0.42) earnings per share. Wix.com’s quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts expect that Wix.com will post 1.16 earnings per share for the current fiscal year.

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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.