Is it Still Worthy to Invest in Wix.com?

Baron Funds, an asset management firm, published its “Baron Asset Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Asset Fund (the “Fund”) fell 14.52% (Institutional Shares), while the Russell Midcap Growth Index (the “Index”) fell 12.58%. The S&P 500 Index, which comprises both growths and value-oriented large-cap stocks, fell 4.60%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Asset Fund mentioned Wix.com Ltd. (NASDAQ:WIX) and explained its insights for the company. Founded in 2006, Wix.com Ltd. (NASDAQ:WIX) is a Tel Aviv-Yafo, Israel-based web development company with a $4.0 billion market capitalization. Wix.com Ltd. (NASDAQ:WIX)  delivered a -54.88% return since the beginning of the year, while its 12-month returns are down by -68.02%. The stock closed at $71.19 per share on May 13, 2022.

Here is what Baron Asset Fund has to say about Wix.com Ltd. (NASDAQ:WIX) in its Q1 2022 investor letter:

“Underperformance of IT investments, lack of exposure to the Energy sector, which was driven sharply higher by spiking oil prices, and greater exposure to lagging life sciences tools & services stocks within Health Care detracted the most from relative results. Weakness in the sector also stemmed from website development platform Wix.com Ltd. (NASDAQ:WIX). Wix’s stock declined after the company experienced a slowdown in new customer additions in the aftermath of pandemic-related trends.”

11 Highest Paying Countries for Information Technology Professionals

Rawpixel.com/Shutterstock.com

Our calculations show that Wix.com Ltd. (NASDAQ:WIX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Wix.com Ltd. (NASDAQ:WIX) was in 29 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 25 funds in the previous quarter. Wix.com Ltd. (NASDAQ:WIX) delivered a -38.79% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Wix.com Ltd. (NASDAQ:WIX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.