Wix.com (NASDAQ:WIX) Hits New 52-Week Low – What’s Next?

Wix.com Ltd. (NASDAQ:WIX)’s share price hit a new 52-week low on Friday . The stock traded as low as $51.33 and last traded at $52.2230, with a volume of 499637 shares changing hands. The stock had previously closed at $53.70.

Analyst Ratings Changes

A number of research firms have recently commented on WIX. Benchmark dropped their price objective on Wix.com from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Raymond James Financial reissued a “strong-buy” rating and issued a $100.00 price objective on shares of Wix.com in a research note on Wednesday, March 4th. Morgan Stanley dropped their price objective on Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Royal Bank Of Canada downgraded Wix.com from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $90.00 to $60.00 in a research note on Thursday, May 14th. Finally, Bank of America dropped their price objective on Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $100.90.

Wix.com Stock Down 2.4%

The business has a 50-day moving average price of $69.06 and a 200-day moving average price of $82.79. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -67.17 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The company had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.69 earnings per share. As a group, sell-side analysts predict that Wix.com Ltd. will post -0.27 EPS for the current year.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors acquired a new stake in shares of Wix.com during the first quarter worth $249,000. California State Teachers Retirement System raised its position in shares of Wix.com by 6.0% during the first quarter. California State Teachers Retirement System now owns 59,243 shares of the information services provider’s stock worth $5,336,000 after purchasing an additional 3,343 shares during the period. Empowered Funds LLC acquired a new stake in shares of Wix.com during the first quarter worth $2,381,000. Quantinno Capital Management LP raised its position in shares of Wix.com by 155.6% during the first quarter. Quantinno Capital Management LP now owns 122,722 shares of the information services provider’s stock worth $11,054,000 after purchasing an additional 74,716 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Wix.com by 7,102.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after purchasing an additional 685,614 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.