Wix.com Sees Unusually Large Options Volume (NASDAQ:WIX)

Wix.com Ltd. (NASDAQ:WIX) saw some unusual options trading on Thursday. Investors acquired 3,046 call options on the company. This represents an increase of approximately 84% compared to the typical daily volume of 1,654 call options.

Wix.com Price Performance

Shares of NASDAQ:WIX traded up $2.13 during midday trading on Thursday, reaching $160.26. 59,683 shares of the company’s stock were exchanged, compared to its average volume of 584,157. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 139.15, a P/E/G ratio of 3.70 and a beta of 1.47. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65. The firm’s 50 day simple moving average is $160.84 and its two-hundred day simple moving average is $148.46.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. The company had revenue of $435.70 million during the quarter, compared to analyst estimates 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 was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. Equities research analysts predict that Wix.com will post 2.01 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwest Bank & Trust Co acquired a new position in Wix.com during the 4th quarter worth about $26,000. Fidelis Capital Partners LLC purchased a new stake in shares of Wix.com during the first quarter worth $37,000. Principal Securities Inc. purchased a new position in Wix.com in the fourth quarter valued at $93,000. Industrial Alliance Investment Management Inc. grew its stake in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Wix.com from $184.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Citigroup upped their price objective on shares of Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. B. Riley raised their target price on shares of Wix.com from $154.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. UBS Group boosted their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.19.

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.