Wix.com Ltd. (NASDAQ:WIX) Position Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in shares of Wix.com Ltd. (NASDAQ:WIX) by 45.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,772 shares of the information services provider’s stock after selling 81,958 shares during the period. Allspring Global Investments Holdings LLC owned about 0.17% of Wix.com worth $16,177,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Wix.com during the first quarter valued at approximately $345,000. Diversified Trust Co boosted its stake in shares of Wix.com by 30.2% during the 1st quarter. Diversified Trust Co now owns 21,894 shares of the information services provider’s stock valued at $3,010,000 after buying an additional 5,076 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Wix.com by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 112,500 shares of the information services provider’s stock valued at $15,466,000 after buying an additional 796 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in shares of Wix.com in the 1st quarter valued at $214,000. Finally, Van ECK Associates Corp lifted its stake in shares of Wix.com by 4.7% in the 1st quarter. Van ECK Associates Corp now owns 16,259 shares of the information services provider’s stock valued at $2,235,000 after purchasing an additional 728 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

WIX opened at $162.46 on Friday. The company has a market cap of $9.29 billion, a price-to-earnings ratio of 142.51, a price-to-earnings-growth ratio of 3.55 and a beta of 1.48. The firm has a 50 day simple moving average of $163.44 and a 200 day simple moving average of $154.71. Wix.com Ltd. has a fifty-two week low of $76.90 and a fifty-two week high of $179.00.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Benchmark lifted their target price on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a research report on Thursday, July 25th. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $184.00 to $200.00 in a research report on Monday, September 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a research report on Monday, October 7th. Finally, KeyCorp assumed coverage on shares of Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Three 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Company 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.