Seven Eight Capital LP Purchases 5,777 Shares of Wix.com Ltd. (NASDAQ:WIX)

Seven Eight Capital LP raised its position in Wix.com Ltd. (NASDAQ:WIX) by 107.9% during the second quarter, Holdings Channel reports. The firm owned 11,132 shares of the information services provider’s stock after purchasing an additional 5,777 shares during the period. Seven Eight Capital LP’s holdings in Wix.com were worth $1,771,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in Wix.com during the fourth quarter valued at $93,000. BNP Paribas Financial Markets boosted its holdings in Wix.com by 13.1% during the fourth quarter. BNP Paribas Financial Markets now owns 20,876 shares of the information services provider’s stock worth $2,568,000 after purchasing an additional 2,417 shares during the last quarter. Norges Bank purchased a new position in shares of Wix.com in the fourth quarter worth about $34,554,000. Trexquant Investment LP lifted its position in shares of Wix.com by 7.1% during the fourth quarter. Trexquant Investment LP now owns 58,062 shares of the information services provider’s stock worth $7,143,000 after acquiring an additional 3,830 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Wix.com during the fourth quarter valued at about $244,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Piper Sandler reissued a “neutral” rating and issued a $184.00 target price on shares of Wix.com in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Wix.com from $148.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, May 29th. Finally, UBS Group boosted their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $189.19.

Wix.com Stock Down 0.4 %

Wix.com stock opened at $159.54 on Thursday. Wix.com Ltd. has a twelve month low of $76.90 and a twelve month high of $178.65. The company has a market capitalization of $8.75 billion, a P/E ratio of 139.95, a PEG ratio of 3.47 and a beta of 1.47. The stock’s 50 day moving average is $160.64 and its 200 day moving average is $149.98.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.58 earnings per share. As a group, equities analysts expect that Wix.com Ltd. will post 2.01 EPS for the current year.

Wix.com 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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.