Wix.com (NASDAQ:WIX) Reaches New 52-Week Low – Here’s Why

Wix.com Ltd. (NASDAQ:WIX) shares hit a new 52-week low on Monday . The company traded as low as $92.20 and last traded at $92.2550, with a volume of 146904 shares. The stock had previously closed at $95.84.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WIX. Needham & Company LLC decreased their target price on shares of Wix.com from $200.00 to $140.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Barclays reduced their price objective on Wix.com from $235.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Zacks Research downgraded Wix.com from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Cantor Fitzgerald lifted their price target on Wix.com from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, December 11th. Finally, UBS Group reissued an “overweight” rating on shares of Wix.com in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $167.95.

Wix.com Trading Down 3.9%

The company’s fifty day simple moving average is $108.63 and its 200 day simple moving average is $134.18. The firm has a market capitalization of $5.17 billion, a P/E ratio of 39.41, a price-to-earnings-growth ratio of 3.02 and a beta of 1.42.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in the company. GC Wealth Management RIA LLC purchased a new stake in Wix.com in the second quarter worth about $417,000. Schroder Investment Management Group boosted its position in shares of Wix.com by 34.8% in the 2nd quarter. Schroder Investment Management Group now owns 228,028 shares of the information services provider’s stock worth $36,133,000 after purchasing an additional 58,859 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Wix.com by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 491,958 shares of the information services provider’s stock worth $77,466,000 after buying an additional 12,210 shares during the last quarter. ARK Investment Management LLC grew its stake in shares of Wix.com by 28.2% in the 2nd quarter. ARK Investment Management LLC now owns 10,290 shares of the information services provider’s stock worth $1,631,000 after buying an additional 2,266 shares during the last quarter. Finally, Senvest Management LLC increased its position in Wix.com by 32.2% during the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock valued at $323,403,000 after buying an additional 496,770 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.