Mount Yale Investment Advisors LLC Makes New Investment in Wix.com Ltd. (NASDAQ:WIX)

Mount Yale Investment Advisors LLC purchased a new stake in Wix.com Ltd. (NASDAQ:WIX) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,501 shares of the information services provider’s stock, valued at approximately $716,000.

A number of other institutional investors have also modified their holdings of the business. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the fourth quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the first quarter valued at $37,000. Industrial Alliance Investment Management Inc. raised its stake in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after purchasing an additional 488 shares in the last quarter. Optimist Retirement Group LLC bought a new position in Wix.com in the 4th quarter valued at about $201,000. Finally, First Trust Direct Indexing L.P. acquired a new position in Wix.com during the 1st quarter valued at about $214,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $163.87 on Tuesday. The company has a 50 day moving average of $160.45 and a 200-day moving average of $150.52. Wix.com Ltd. has a one year low of $76.90 and a one year high of $178.65. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 143.75, a P/E/G ratio of 3.47 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.58 EPS. Equities research analysts anticipate that Wix.com Ltd. will post 2.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WIX shares. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Barclays lifted their target price on shares of Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $184.00 to $200.00 in a report on Monday. Finally, Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.19.

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.