Wix.com (NASDAQ:WIX) Sees Large Volume Increase – Time to Buy?

Wix.com Ltd. (NASDAQ:WIX) shares saw strong trading volume on Thursday . 2,901,599 shares changed hands during mid-day trading, an increase of 14% from the previous session’s volume of 2,550,672 shares.The stock last traded at $87.09 and had previously closed at $90.50.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WIX shares. Citizens Jmp decreased their target price on shares of Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a research report on Thursday, January 22nd. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Citigroup decreased their price objective on Wix.com from $150.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Morgan Stanley lowered their price objective on Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Finally, Oppenheimer dropped their target price on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and a consensus price target of $128.70.

Wix.com Stock Performance

The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 104.79, a PEG ratio of 3.10 and a beta of 1.26. The business’s 50-day moving average is $81.46 and its 200-day moving average is $108.62.

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

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WIX. Farther Finance Advisors LLC increased its position in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. Westside Investment Management Inc. boosted its stake in shares of Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com in the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 215 shares during the period. Finally, Employees Retirement System of Texas raised its stake in shares of Wix.com by 129.9% during the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after buying an additional 252 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

About Wix.com

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.