Invenomic Capital Management LP Acquires New Stake in Wix.com Ltd. $WIX

Invenomic Capital Management LP acquired a new stake in shares of Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 81,425 shares of the information services provider’s stock, valued at approximately $8,459,000. Invenomic Capital Management LP owned approximately 0.15% of Wix.com as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of WIX. AQR Capital Management LLC increased its holdings in shares of Wix.com by 36.6% in the 1st quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock worth $266,000 after purchasing an additional 436 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Wix.com by 9.7% in the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock worth $374,000 after purchasing an additional 202 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Wix.com by 18.9% in the 2nd quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock worth $294,000 after purchasing an additional 295 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Wix.com by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock worth $1,098,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WIX. Morgan Stanley reduced their target price on Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Wells Fargo & Company reduced their target price on Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, June 9th. Bank of America reduced their target price on Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Citizens Jmp lowered Wix.com from a “market outperform” rating to a “market perform” rating in a report on Tuesday, April 7th. Finally, Piper Sandler began coverage on Wix.com in a report on Thursday, March 12th. They issued a “neutral” rating and a $98.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and an average price target of $97.95.

Wix.com Stock Performance

NASDAQ WIX opened at $42.05 on Thursday. The company has a market capitalization of $2.45 billion, a PE ratio of -53.91 and a beta of 0.91. The business’s fifty day moving average is $62.49 and its 200 day moving average is $79.42. Wix.com Ltd. has a fifty-two week low of $41.85 and a fifty-two week high of $190.93.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. Wix.com’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.69 earnings per share. On average, sell-side analysts forecast that Wix.com Ltd. will post -0.1 EPS for the current year.

Wix.com Company Profile

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.