Wix.com Ltd. $WIX Stock Position Raised by TD Asset Management Inc

TD Asset Management Inc lifted its position in Wix.com Ltd. (NASDAQ:WIX) by 0.8% in the 2nd quarter, Holdings Channel reports. The fund owned 21,218 shares of the information services provider’s stock after buying an additional 161 shares during the period. TD Asset Management Inc’s holdings in Wix.com were worth $3,362,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WIX. Alliancebernstein L.P. lifted its position in shares of Wix.com by 115.8% in the 1st quarter. Alliancebernstein L.P. now owns 560,214 shares of the information services provider’s stock valued at $91,528,000 after acquiring an additional 300,565 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new stake in shares of Wix.com in the 1st quarter valued at approximately $26,737,000. Durable Capital Partners LP lifted its position in shares of Wix.com by 38.7% in the 1st quarter. Durable Capital Partners LP now owns 580,808 shares of the information services provider’s stock valued at $94,892,000 after acquiring an additional 162,075 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Wix.com by 25.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider’s stock valued at $124,425,000 after acquiring an additional 155,977 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Wix.com by 177.4% in the 1st quarter. Federated Hermes Inc. now owns 238,559 shares of the information services provider’s stock valued at $38,976,000 after acquiring an additional 152,573 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

WIX has been the subject of several research analyst reports. Scotiabank set a $255.00 price target on shares of Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Piper Sandler increased their target price on shares of Wix.com from $206.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Needham & Company LLC cut their target price on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $210.00 target price on shares of Wix.com in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $215.37.

Wix.com Trading Up 5.2%

Wix.com stock opened at $137.58 on Tuesday. The company has a market capitalization of $7.72 billion, a P/E ratio of 48.96, a P/E/G ratio of 2.44 and a beta of 1.32. The firm’s fifty day simple moving average is $149.26 and its 200-day simple moving average is $154.07. Wix.com Ltd. has a 1-year low of $114.89 and a 1-year high of $247.11.

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

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

Wix.com Company Profile

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.