Zacks: Analysts Anticipate Wix.com Ltd. (WIX) Will Announce Quarterly Sales of $110.00 Million
Brokerages predict that Wix.com Ltd. (NASDAQ:WIX) will post sales of $110.00 million for the current fiscal quarter, according to Zacks Investment Research. 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 $109.32 million. Wix.com reported sales of $75.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 45.5%. The company is expected to issue its next earnings results on Thursday, November 9th.
On average, analysts expect that Wix.com will report full-year sales of $110.00 million for the current year, with estimates ranging from $422.28 million to $425.30 million. For the next financial year, analysts anticipate that the business will report sales of $561.54 million per share, with estimates ranging from $546.40 million to $576.24 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Wix.com.
Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Thursday, July 27th. The information services provider reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.16). The firm had revenue of $103.50 million during the quarter, compared to the consensus estimate of $101.93 million. During the same period in the previous year, the company posted ($0.09) EPS. The firm’s revenue for the quarter was up 50.7% on a year-over-year basis.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Wix.com from a “sell” rating to a “hold” rating and set a $82.00 price target for the company in a research note on Wednesday, July 26th. BidaskClub lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. KeyCorp assumed coverage on shares of Wix.com in a research note on Monday, July 24th. They set an “overweight” rating for the company. Wedbush assumed coverage on shares of Wix.com in a research note on Thursday, June 22nd. They set an “outperform” rating and a $86.00 price target for the company. Finally, Northland Securities restated a “buy” rating and set a $75.00 price target on shares of Wix.com in a research note on Thursday, September 21st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Wix.com has a consensus rating of “Buy” and an average price target of $74.87.
Shares of Wix.com (WIX) traded down 2.33% during midday trading on Wednesday, hitting $69.15. The stock had a trading volume of 354,855 shares. The stock’s 50-day moving average price is $65.57 and its 200 day moving average price is $70.35. Wix.com has a 52 week low of $38.65 and a 52 week high of $86.15. The company’s market cap is $3.14 billion.
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A number of institutional investors have recently added to or reduced their stakes in WIX. Bank of New York Mellon Corp grew its stake in Wix.com by 14.8% in the 1st quarter. Bank of New York Mellon Corp now owns 46,805 shares of the information services provider’s stock valued at $3,178,000 after buying an additional 6,024 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Wix.com in the 1st quarter valued at approximately $5,404,000. Parametric Portfolio Associates LLC grew its stake in Wix.com by 28.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 21,257 shares of the information services provider’s stock valued at $1,443,000 after buying an additional 4,753 shares in the last quarter. Oxford Asset Management purchased a new position in Wix.com in the 1st quarter valued at approximately $503,000. Finally, Cipher Capital LP purchased a new position in Wix.com in the 1st quarter valued at approximately $282,000. Institutional investors and hedge funds own 69.96% of the company’s stock.
Wix.com Company Profile
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.
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