Wix.com Ltd. (NASDAQ:WIX) Sees Significant Growth in Short Interest

Wix.com Ltd. (NASDAQ:WIX) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 1,550,000 shares, an increase of 29.2% from the December 31st total of 1,200,000 shares. Based on an average daily trading volume, of 541,200 shares, the days-to-cover ratio is presently 2.9 days. Approximately 2.9% of the company’s shares are sold short.

Wix.com Trading Down 1.9 %

NASDAQ WIX opened at $242.14 on Thursday. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 151.34, a PEG ratio of 2.62 and a beta of 1.56. The business’s 50 day moving average is $224.84 and its two-hundred day moving average is $185.79. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Wix.com by 0.6% during the fourth quarter. Van ECK Associates Corp now owns 16,946 shares of the information services provider’s stock worth $3,636,000 after buying an additional 107 shares during the period. Legato Capital Management LLC boosted its stake in shares of Wix.com by 22.9% during the 4th quarter. Legato Capital Management LLC now owns 8,578 shares of the information services provider’s stock worth $1,840,000 after acquiring an additional 1,598 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Wix.com by 90.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock worth $39,859,000 after acquiring an additional 87,327 shares during the period. Cigna Investments Inc. New purchased a new position in Wix.com in the 4th quarter valued at approximately $207,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the fourth quarter worth $43,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Benchmark upped their price objective on shares of Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. B. Riley raised their price target on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Piper Sandler lifted their target price on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Barclays increased their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.06.

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.