Seven Eight Capital LP Invests $736,000 in Wix.com Ltd. (NASDAQ:WIX)

Seven Eight Capital LP acquired a new position in shares of Wix.com Ltd. (NASDAQ:WIX) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,355 shares of the information services provider’s stock, valued at approximately $736,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WIX. HighMark Wealth Management LLC bought a new stake in Wix.com in the 4th quarter valued at $26,000. Northwest Bank & Trust Co bought a new stake in Wix.com in the 4th quarter valued at $26,000. Fidelis Capital Partners LLC bought a new stake in Wix.com in the 1st quarter valued at $37,000. Principal Securities Inc. bought a new stake in Wix.com in the 4th quarter valued at $93,000. Finally, Optimist Retirement Group LLC bought a new stake in Wix.com in the 4th quarter valued at $201,000. Institutional investors own 81.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Barclays upped their price objective on Wix.com from $160.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. JMP Securities increased their target price on Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 21st. Benchmark increased their target price on Wix.com from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Raymond James assumed coverage on Wix.com in a report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Jefferies Financial Group raised their price objective on Wix.com from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.59.

Wix.com Trading Up 1.6 %

WIX stock traded up $2.62 during mid-day trading on Tuesday, reaching $168.74. The company’s stock had a trading volume of 268,078 shares, compared to its average volume of 619,551. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 145.72, a price-to-earnings-growth ratio of 3.86 and a beta of 1.47. The business’s 50 day moving average price is $161.10 and its 200 day moving average price is $140.98. Wix.com Ltd. has a 12 month low of $76.90 and a 12 month high of $178.65.

Wix.com (NASDAQ:WIX) last issued its earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. The business had revenue of $419.78 million during the quarter, compared to the consensus estimate of $417.71 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. As a group, equities analysts expect that Wix.com Ltd. will post 1.91 EPS for the current fiscal year.

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.