Entropy Technologies LP Takes Position in Wix.com Ltd. $WIX

Entropy Technologies LP purchased a new position in Wix.com Ltd. (NASDAQ:WIX) in the fourth quarter, Holdings Channel.com reports. The firm purchased 20,357 shares of the information services provider’s stock, valued at approximately $2,115,000.

Several other hedge funds have also recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its position in Wix.com by 122.2% during the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Wix.com in the 4th quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after buying an additional 215 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in shares of Wix.com by 129.9% during the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock valued at $46,000 after buying an additional 252 shares during the period. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Wix.com by 464.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock worth $52,000 after buying an additional 409 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on WIX shares. Citizens Jmp cut Wix.com from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, April 7th. Wells Fargo & Company cut their price target on Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 9th. Scotiabank reaffirmed an “outperform” rating on shares of Wix.com in a research report on Tuesday, June 9th. Morgan Stanley lowered their price objective on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Finally, Bank of America dropped their price objective on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.95.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $45.59 on Tuesday. The company has a market capitalization of $2.66 billion, a P/E ratio of -58.45 and a beta of 0.92. Wix.com Ltd. has a 1-year low of $42.66 and a 1-year high of $190.93. The firm’s 50 day simple moving average is $64.08 and its two-hundred day simple moving average is $80.16.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data 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 firm had revenue of $541.17 million during the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. On average, sell-side analysts anticipate that Wix.com Ltd. will post -0.27 earnings per share for the current fiscal year.

Wix.com Company Profile

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.