Wix.com (NASDAQ:WIX) Stock Price Target Cut by Citigroup

Wix.com (NASDAQ:WIX) had its price target cut by equities researchers at Citigroup from $72.00 to $71.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the information services provider’s stock. Citigroup‘s price objective would indicate a potential upside of 3.06% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Morgan Stanley increased their price target on Wix.com from $65.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday. Needham & Company LLC increased their target price on shares of Wix.com from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Evercore set a $95.00 price target on shares of Wix.com in a report on Tuesday, August 4th. Cantor Fitzgerald dropped their price target on shares of Wix.com from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wix.com from $62.00 to $59.00 and set an “underweight” rating on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Wix.com presently has an average rating of “Hold” and an average price target of $89.52.

Wix.com Price Performance

Shares of Wix.com stock traded up $4.51 during trading on Wednesday, hitting $68.89. The company’s stock had a trading volume of 578,813 shares, compared to its average volume of 1,914,630. Wix.com has a 52 week low of $40.16 and a 52 week high of $135.00. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of -19.51, a price-to-earnings-growth ratio of 33.15 and a beta of 1.06. The stock has a 50-day moving average price of $76.88 and a two-hundred day moving average price of $70.32.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Tuesday, November 10th. The information services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The business had revenue of $570.17 million during the quarter, compared to the consensus estimate of $566.27 million. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. Wix.com’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.80 earnings per share. On average, equities analysts predict that Wix.com will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Wix.com

In other Wix.com news, insider Shelly B. Meyer sold 479 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $95.00, for a total transaction of $45,505.00. Following the transaction, the insider directly owned 183,010 shares in the company, valued at approximately $17,385,950. This represents a 0.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lior Shemesh acquired 456 shares of Wix.com stock in a transaction dated Monday, August 31st. The shares were bought at an average cost of $59.89 per share, with a total value of $27,309.84. Following the transaction, the chief financial officer owned 221,567 shares in the company, valued at approximately $13,269,647.63. This trade represents a 0.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,622 shares of company stock valued at $157,032 over the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently bought and sold shares of WIX. Senvest Management LLC boosted its position in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after purchasing an additional 746,200 shares in the last quarter. Hsbc Holdings PLC increased its position in 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 buying an additional 3,500,047 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after buying an additional 578,729 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in Wix.com by 7,102.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after buying an additional 685,614 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Wix.com by 52.1% during the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after buying an additional 197,200 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Wix.com

Investors following WIX have been watching these headlines:

• Positive Sentiment: Wix reported third-quarter revenue of $570.17 million and adjusted earnings of $1.42 per share, topping consensus estimates; revenue grew 12.9% year over year. Its AI-focused Base44 business also showed traction, with annual recurring revenue nearing $250 million and gross margin close to 60%. Wix Q3 results Base44 takeaways
• Neutral Sentiment: Morgan Stanley raised its price target to $73 from $65 but maintained an Equal Weight rating. Cantor Fitzgerald lowered its target to $80 from $90 while keeping an Overweight rating, reflecting continued disagreement on the shares’ outlook. Morgan Stanley rating
• Negative Sentiment: The company lowered its cash-flow margin outlook as it increases spending on marketing and AI. Investors may also be concerned about slower growth in Wix’s core business. Several firms cut targets, including RBC to $58, Wells Fargo to $63, JPMorgan to $59, and Bank of America, which downgraded the stock to Underperform. Cash-flow outlook RBC rating

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.