Wix.com Ltd. (NASDAQ:WIX) Sees Large Decline in Short Interest

Wix.com Ltd. (NASDAQ:WIX) saw a significant decline in short interest in 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. Based on an average daily volume of 563,600 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WIX shares. Barclays boosted their target price on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler boosted their price target on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Raymond James began coverage on Wix.com in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price target for the company. JMP Securities boosted their price target on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada boosted their price target on Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently bought and sold shares of WIX. HighMark Wealth Management LLC purchased a new position in shares of Wix.com in the 4th quarter valued at $26,000. Northwest Bank & Trust Co purchased a new position in shares of Wix.com in the 4th quarter valued at $26,000. Quarry LP purchased a new position in shares of Wix.com in the 2nd quarter valued at $29,000. UniSuper Management Pty Ltd purchased a new position in shares of Wix.com in the 2nd quarter valued at $31,000. Finally, BluePath Capital Management LLC purchased a new position in shares of Wix.com in the 3rd quarter valued at $37,000. 81.52% of the stock is owned by institutional investors.

Wix.com Stock Performance

Shares of WIX stock opened at $131.41 on Friday. Wix.com has a 52-week low of $73.39 and a 52-week high of $146.21. The firm has a market capitalization of $7.31 billion, a P/E ratio of 238.93, a P/E/G ratio of 4.64 and a beta of 1.33. The stock has a 50 day moving average price of $135.27 and a 200 day moving average price of $114.61.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The firm had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned ($0.42) EPS. As a group, sell-side analysts forecast that Wix.com will post 1.16 EPS for the current year.

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.