Wix.com Ltd. (NASDAQ:WIX) Short Interest Update

Wix.com Ltd. (NASDAQ:WIX) was the target of a significant decrease in short interest during 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. Based on an average daily volume of 563,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WIX shares. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Wix.com in a research note on Wednesday, February 21st. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank of Canada boosted their target price on shares of Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Piper Sandler upped their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Benchmark increased their price target on shares of Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

Wix.com Stock Performance

NASDAQ WIX opened at $127.14 on Friday. The firm has a market capitalization of $7.08 billion, a PE ratio of 231.16, a price-to-earnings-growth ratio of 4.52 and a beta of 1.33. Wix.com has a one year low of $73.39 and a one year high of $146.21. The company has a 50-day simple moving average of $135.26 and a 200-day simple moving average of $114.86.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same quarter last year, the business posted ($0.42) EPS. The business’s revenue was up 13.7% on a year-over-year basis. Equities analysts forecast that Wix.com will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC bought a new stake in shares of Wix.com during the 4th quarter worth about $26,000. Northwest Bank & Trust Co bought a new stake in Wix.com during the fourth quarter worth approximately $26,000. Quarry LP acquired a new stake in Wix.com in the second quarter worth approximately $29,000. UniSuper Management Pty Ltd bought a new position in Wix.com during the 2nd quarter valued at $31,000. Finally, BluePath Capital Management LLC acquired a new position in shares of Wix.com during the 3rd quarter valued at $37,000. 81.52% of the stock is owned by institutional investors.

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.