Wix.com (NASDAQ:WIX) Shares Gap Down – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX) gapped down before the market opened on Thursday . The stock had previously closed at $47.76, but opened at $45.83. Wix.com shares last traded at $47.58, with a volume of 104,157 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price objective on shares of Wix.com in a report on Monday, June 15th. Bank of America cut their target price on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on shares of Wix.com from $86.00 to $62.00 and set an “underweight” rating for the company in a research note on Thursday, June 18th. Finally, Morgan Stanley lowered their price target on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $96.75.

Wix.com Stock Performance

The business has a 50 day moving average of $53.52 and a 200-day moving average of $73.00. The company has a market capitalization of $2.92 billion, a P/E ratio of -64.28 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The company had revenue of $541.17 million during the quarter, compared to the consensus estimate of $544.04 million. During the same quarter in the prior year, the business earned $1.69 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that Wix.com Ltd. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its holdings in shares of Wix.com by 11,894.0% in the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Wix.com by 128.3% in the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after purchasing an additional 2,606,204 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after acquiring an additional 1,609,989 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Wix.com during the fourth quarter valued at approximately $150,622,000. Finally, Atreides Management LP purchased a new stake in Wix.com during the 4th quarter valued at $129,598,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.