Candlestick Capital Management LP Makes New Investment in Wix.com Ltd. $WIX

Candlestick Capital Management LP purchased a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,524 shares of the information services provider’s stock, valued at approximately $7,554,000. Candlestick Capital Management LP owned 0.08% of Wix.com as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Westside Investment Management Inc. lifted its holdings in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the period. Geneos Wealth Management Inc. raised its position in Wix.com by 632.4% during 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 during the last quarter. MAI Capital Management lifted its holdings in Wix.com by 109.1% during the 3rd quarter. MAI Capital Management now owns 366 shares of the information services provider’s stock worth $65,000 after buying an additional 191 shares during the period. New Age Alpha Advisors LLC lifted its holdings in Wix.com by 100.0% during the 3rd quarter. New Age Alpha Advisors LLC now owns 690 shares of the information services provider’s stock worth $116,000 after buying an additional 345 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Wix.com by 508.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 779 shares of the information services provider’s stock valued at $123,000 after buying an additional 651 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WIX. Needham & Company LLC decreased their price target on Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. B. Riley Financial reaffirmed a “buy” rating and issued a $200.00 price objective (down from $230.00) on shares of Wix.com in a research note on Thursday, November 20th. Citizens Jmp decreased their target price on shares of Wix.com from $185.00 to $125.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd. Scotiabank decreased their target price on shares of Wix.com from $175.00 to $125.00 and set a “sector outperform” rating for the company in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.90.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $88.09 on Friday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 108.75, a P/E/G ratio of 2.83 and a beta of 1.39. The business’s 50-day moving average is $81.63 and its 200-day moving average is $114.26. Wix.com Ltd. has a 1 year low of $60.22 and a 1 year high of $191.24.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.36 by $0.45. The business had revenue of $524.27 million during the quarter, compared to analysts’ expectations of $527.69 million. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.10 earnings per share. Analysts anticipate that Wix.com Ltd. will post 3.65 EPS for the current year.

Wix.com announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information services provider to buy up to 40.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.