Wix.com (NASDAQ:WIX) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Wix.com Ltd. (NASDAQ:WIX)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $75.78 and traded as low as $44.42. Wix.com shares last traded at $45.37, with a volume of 932,348 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WIX shares. Citigroup reduced their price objective on Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Robert W. Baird cut Wix.com from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $115.00 to $90.00 in a research note on Monday, March 9th. Benchmark reissued a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. Piper Sandler initiated coverage on shares of Wix.com in a research report on Thursday, March 12th. They set a “neutral” rating and a $98.00 target price for the company. Finally, Bank of America lowered their price target 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.75.

Wix.com Trading Down 1.6%

The firm has a fifty day moving average of $57.75 and a two-hundred day moving average of $75.78. The company has a market cap of $2.65 billion, a PE ratio of -58.17 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to analysts’ expectations of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. Wix.com’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. Sell-side analysts expect that Wix.com Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WIX. Ameriprise Financial Inc. grew its stake in Wix.com by 128.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after buying an additional 2,606,204 shares in the last quarter. Senvest Management LLC lifted its position in shares of Wix.com by 24.8% during the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after acquiring an additional 746,200 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after acquiring an additional 3,500,047 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Wix.com by 90.4% in the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after acquiring an additional 1,609,989 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Wix.com by 57.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after purchasing an additional 578,729 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

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.