Brokerages Expect Wix.com Ltd. (WIX) Will Post Quarterly Sales of $109.91 Million
Equities research analysts expect that Wix.com Ltd. (NASDAQ:WIX) will post sales of $109.91 million for the current quarter, according to Zacks. Eight analysts have issued estimates for Wix.com’s earnings, with the highest sales estimate coming in at $110.90 million and the lowest estimate coming in at $108.88 million. Wix.com reported sales of $75.61 million during the same quarter last year, which indicates a positive year over year growth rate of 45.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Wix.com will report full-year sales of $109.91 million for the current financial year, with estimates ranging from $422.28 million to $425.30 million. For the next fiscal year, analysts expect that the firm will post sales of $559.86 million per share, with estimates ranging from $543.94 million to $576.24 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Wix.com.
Wix.com (NASDAQ:WIX) last announced its earnings results on Thursday, July 27th. The information services provider reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.16). The company had revenue of $103.50 million for the quarter, compared to analysts’ expectations of $101.93 million. During the same period last year, the firm earned ($0.09) earnings per share. The company’s revenue was up 50.7% compared to the same quarter last year.
A number of equities analysts recently weighed in on the company. BidaskClub lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. SunTrust Banks, Inc. assumed coverage on Wix.com in a research report on Tuesday, August 15th. They issued a “buy” rating and a $73.00 price target for the company. KeyCorp set a $88.00 price target on Wix.com and gave the company a “buy” rating in a research report on Monday, August 21st. Wedbush assumed coverage on Wix.com in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $86.00 price target for the company. Finally, Barclays PLC reiterated a “buy” rating and issued a $77.00 price target on shares of Wix.com in a research report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Wix.com has a consensus rating of “Hold” and an average target price of $73.30.
TRADEMARK VIOLATION WARNING: “Brokerages Expect Wix.com Ltd. (WIX) Will Post Quarterly Sales of $109.91 Million” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/09/15/brokerages-expect-wix-com-ltd-wix-will-post-quarterly-sales-of-109-91-million.html.
Institutional investors have recently made changes to their positions in the stock. Westpac Banking Corp purchased a new stake in Wix.com in the 1st quarter worth about $137,000. BT Investment Management Ltd purchased a new stake in Wix.com in the 2nd quarter worth about $141,000. Advisor Group Inc. lifted its stake in Wix.com by 196.5% in the 2nd quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock worth $207,000 after acquiring an additional 1,965 shares in the last quarter. Eqis Capital Management Inc. purchased a new stake in Wix.com in the 2nd quarter worth about $207,000. Finally, Group One Trading L.P. purchased a new stake in Wix.com in the 1st quarter worth about $228,000. 70.03% of the stock is owned by hedge funds and other institutional investors.
Wix.com (WIX) opened at 68.90 on Friday. The company has a 50-day moving average of $62.49 and a 200 day moving average of $69.85. The firm’s market cap is $3.13 billion. Wix.com has a 52 week low of $38.65 and a 52 week high of $86.15.
Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Wix.com Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wix.com Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.