Wix.com Ltd. (NASDAQ:WIX) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 11.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,577 shares of the information services provider’s stock after acquiring an additional 2,330 shares during the period. Bank of Montreal Can’s holdings in Wix.com were worth $3,757,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc grew its stake in Wix.com by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock valued at $764,000 after acquiring an additional 136 shares during the last quarter. Signaturefd LLC grew its position in shares of Wix.com by 4.7% in the second quarter. Signaturefd LLC now owns 3,269 shares of the information services provider’s stock valued at $520,000 after purchasing an additional 146 shares during the last quarter. Northwest Bank & Trust Co purchased a new position in shares of Wix.com during the 4th quarter worth approximately $26,000. DekaBank Deutsche Girozentrale increased its stake in shares of Wix.com by 8.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock worth $395,000 after purchasing an additional 215 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

WIX has been the subject of several recent research reports. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Bank of America lifted their price objective on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Benchmark raised their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, UBS Group boosted their price objective 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. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $190.06.

Wix.com Price Performance

Wix.com stock opened at $160.09 on Thursday. Wix.com Ltd. has a 12 month low of $76.90 and a 12 month high of $178.65. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 140.56, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47. The stock’s 50-day moving average is $160.62 and its 200-day moving average is $151.67.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. During the same period in the previous year, the company posted $0.58 earnings per share. Wix.com’s revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Wix.com Ltd. will post 2.1 EPS for the current year.

About Wix.com

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.