Today’s big question for investors is, “what’s going on with Wix.com Ltd. (NASDAQ:WIX) stock? Its price is nose-diving 0 points, trading at $142.09 levels, and is down 0% from its previous close of $142.09. The shares seem to have an active trading volume day with a reported 0 contracts so far this session. WIX shares had a relatively better volume day versus average trading capacity of 798.59 thousand shares, but with a 48.3 million float and a 0.99% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for WIX stock indicates that the average analyst price target is $120.41 per share. This means the stock has a potential decrease of -15.26% from where the WIX share price has been trading recently which is between $137.47 and $143.82. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $73.
The shorts are running away from Wix.com Ltd. (WIX) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in WIX shares. While short interest still represents only 4% of WIX’s float, the number of shares shorted have fallen by -255494. The number of shares shorted fell to 1677907 shares, down from 1933401 shares during the preceding fortnight. With average daily trading volumes at 467129 shares, days to cover increased to about 3.459594 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Wix Earnings Miss Views, Revenue Outlook Light, Stock Falls” and dated May 16, 2019.
During the recent trading session for Wix.com Ltd. (NASDAQ:WIX), the company witnessed their stock drop by $-8.67 over a week and surge $9.99 from the price 20 days ago. When compared to their established 52-week high of $143.82, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/15/19. The recent low of $80.2 stood for a -1.2% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.71 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Wix.com Ltd., the two-week RSI stands at 66.82. This figure suggests that WIX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current WIX readings is similarly very revealing as it has a stochastic reading of 53.76% at this stage. This figure means that WIX share price today is being neutral.
Technical chart claims that Wix.com Ltd. (WIX) would settle between $144.78/share to $147.48/share level. However, if the stock price goes below the $138.43 mark, then the market for Wix.com Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $134.78 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.97. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at KeyBanc Capital Markets, assumed coverage of WIX assigning Sector Weight rating, according to their opinion released on April 29. Macquarie, analysts launched coverage of Wix.com Ltd. (NASDAQ:WIX) stock with a Neutral recommendation, according to their flash note issued to investors on March 27. Analysts at Guggenheim, made their first call for the equity with a Buy recommendation, according to a research note that dated back to March 20.
WIX equity has an average rating of 1.84, with the figure leaning towards a bullish end. 19 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 15 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 14 analysts rated Wix.com Ltd. (NASDAQ:WIX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, WIX stock price is currently trading at 83.98X forward 12-month Consensus EPS estimates, and its P/S ratio is 11.74 while for the average stock in the same group, the multiple is 375.14.
Wix.com Ltd. (WIX)’s current-quarter revenues are projected to climb by nearly 25.54% to hit $172970, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 25.86% from $603700 to a noteworthy $759810. At the other end of the current quarter income statement, Wix.com Ltd. is expected to see its adjusted earnings surge by roughly 280% to hit $0.09 per share. For the fiscal year, WIX’s earnings are projected to climb by roughly 5.61% to hit $1.13 per share.