Wix.com (NASDAQ:WIX) Stock Rating Lowered by Robert W. Baird

Wix.com (NASDAQ:WIX) was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, Marketbeat.com reports. They presently have a $90.00 target price on the information services provider’s stock, down from their previous target price of $115.00. Robert W. Baird’s price objective indicates a potential downside of 1.74% from the company’s previous close.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $130.00 price target on shares of Wix.com in a research report on Thursday. Needham & Company LLC reduced their price objective on shares of Wix.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore decreased their price objective on Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Oppenheimer lowered their target price on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, February 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $100.00 target price on shares of Wix.com in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $140.50.

Wix.com Stock Performance

Shares of Wix.com stock traded down $2.30 during midday trading on Monday, hitting $91.60. 1,194,394 shares of the company traded hands, compared to its average volume of 2,387,826. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 113.15, a PEG ratio of 2.02 and a beta of 1.40. The firm’s fifty day moving average price is $83.03 and its 200-day moving average price is $115.60. Wix.com has a 12 month low of $60.22 and a 12 month high of $191.24.

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

Wix.com declared that its Board of Directors has authorized a share repurchase program on Wednesday, January 28th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information services provider to buy up to 40.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Wix.com

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in Wix.com by 128.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after purchasing an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Wix.com by 90.4% during the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after buying an additional 1,609,989 shares during the last quarter. Senvest Management LLC increased its position in shares of Wix.com by 20.9% during the fourth quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider’s stock worth $312,551,000 after acquiring an additional 519,805 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Wix.com in the 2nd quarter worth about $342,485,000. Finally, Dorsal Capital Management LP raised its holdings in shares of Wix.com by 50.0% in the 3rd quarter. Dorsal Capital Management LP now owns 1,575,000 shares of the information services provider’s stock worth $279,767,000 after acquiring an additional 525,000 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.