Wix.com Ltd. (NASDAQ:WIX) Sees Significant Decrease in Short Interest

Wix.com Ltd. (NASDAQ:WIX) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,150,000 shares, a decline of 27.2% from the March 15th total of 1,580,000 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 563,600 shares, the short-interest ratio is presently 2.0 days.

Wix.com Stock Performance

Shares of Wix.com stock traded down $4.27 during trading hours on Friday, hitting $127.14. The company’s stock had a trading volume of 606,247 shares, compared to its average volume of 365,069. The business has a 50 day moving average price of $135.26 and a two-hundred day moving average price of $115.05. Wix.com has a 12-month low of $73.39 and a 12-month high of $146.21. The company has a market cap of $7.08 billion, a PE ratio of 231.16, a PEG ratio of 4.38 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same period in the previous year, the business earned ($0.42) earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. As a group, research analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on WIX shares. Benchmark lifted their price objective on Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday. B. Riley lifted their target price on Wix.com from $120.00 to $141.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. JMP Securities lifted their target price on Wix.com from $130.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Wix.com in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.00.

Institutional Investors Weigh In On Wix.com

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of Wix.com by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,949 shares of the information services provider’s stock worth $2,577,000 after purchasing an additional 100 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Wix.com by 5.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after acquiring an additional 129 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Wix.com by 21.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 763 shares of the information services provider’s stock worth $56,000 after acquiring an additional 136 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Wix.com by 2.7% during the second quarter. First Republic Investment Management Inc. now owns 6,310 shares of the information services provider’s stock worth $414,000 after acquiring an additional 167 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Wix.com by 1.0% during the fourth quarter. Public Sector Pension Investment Board now owns 19,402 shares of the information services provider’s stock worth $2,387,000 after acquiring an additional 200 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to have the freedom of customization that the classic editor offers.