Wix.com (NASDAQ:WIX) Sets New 12-Month Low – Time to Sell?

Wix.com Ltd. (NASDAQ:WIX)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $66.66 and last traded at $67.8070, with a volume of 72566 shares changing hands. The stock had previously closed at $69.23.

Wall Street Analyst Weigh In

Several analysts have commented on WIX shares. Wells Fargo & Company lowered their price target on Wix.com from $184.00 to $176.00 and set an “overweight” rating for the company in a report on Friday, December 19th. Evercore decreased their target price on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Bank of America lowered their price objective on shares of Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.43.

Wix.com Price Performance

The firm has a 50-day simple moving average of $91.66 and a 200 day simple moving average of $120.74. The company has a market capitalization of $3.78 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 2.15 and a beta of 1.42.

Wix.com declared that its board has approved a stock repurchase program on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in Wix.com by 122.2% during the 4th 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 in the last quarter. Westside Investment Management Inc. grew its stake in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com during the fourth quarter worth about $27,000. Geneos Wealth Management Inc. lifted its stake in shares of Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its stake in shares of Wix.com by 129.9% in the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after acquiring an additional 252 shares in the last quarter. 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.