Wix.com Ltd. (WIX) Expected to Post Quarterly Sales of $110.00 Million
Equities research analysts expect Wix.com Ltd. (NASDAQ:WIX) to announce $110.00 million in sales for the current fiscal 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 $109.32 million. Wix.com posted sales of $75.61 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 45.5%. The company is scheduled to report its next earnings report before the market opens on Wednesday, November 8th.
According to Zacks, analysts expect that Wix.com will report full year sales of $110.00 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 company will report sales of $561.54 million per share, with estimates ranging from $546.40 million to $576.24 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Wix.com.
Wix.com (NASDAQ:WIX) last released its earnings results 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 company had revenue of $103.50 million during the quarter, compared to analyst estimates of $101.93 million. The business’s revenue was up 50.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) earnings per share.
Several equities research analysts have commented on WIX shares. BidaskClub lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. KeyCorp set a $88.00 price objective on shares of Wix.com and gave the company a “buy” rating in a research note on Monday, August 21st. SunTrust Banks, Inc. started coverage on shares of Wix.com in a research note on Tuesday, August 15th. They issued a “buy” rating and a $73.00 price objective for the company. Zacks Investment Research lowered shares of Wix.com from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, Barclays PLC reiterated a “buy” rating and issued a $77.00 price objective on shares of Wix.com in a research note on Wednesday, August 2nd. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.87.
Large investors have recently made changes to their positions in the business. BT Investment Management Ltd bought a new position in Wix.com in the 2nd quarter valued at $141,000. Advisor Group Inc. boosted its holdings 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 valued at $207,000 after purchasing an additional 1,965 shares during the period. Eqis Capital Management Inc. bought a new position in Wix.com in the 2nd quarter valued at $207,000. Legal & General Group Plc boosted its holdings in Wix.com by 500.0% in the 1st quarter. Legal & General Group Plc now owns 3,600 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 3,000 shares during the period. Finally, Caxton Associates LP bought a new position in Wix.com in the 1st quarter valued at $265,000. 69.96% of the stock is owned by hedge funds and other institutional investors.
Wix.com (NASDAQ:WIX) traded down 0.07% during mid-day trading on Monday, hitting $69.15. The company had a trading volume of 343,440 shares. Wix.com has a 12-month low of $38.65 and a 12-month high of $86.15. The firm’s market capitalization is $3.14 billion. The company’s 50 day moving average price is $68.63 and its 200-day moving average price is $70.44.
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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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