Wix.Com Ltd (WIX) Expected to Announce Quarterly Sales of $116.73 Million

Wall Street analysts predict that Wix.Com Ltd (NASDAQ:WIX) will report $116.73 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Wix.Com’s earnings, with the highest sales estimate coming in at $117.50 million and the lowest estimate coming in at $116.16 million. Wix.Com posted sales of $84.18 million during the same quarter last year, which would indicate a positive year over year growth rate of 38.7%. The business is expected to announce its next quarterly earnings results on Wednesday, February 21st.

On average, analysts expect that Wix.Com will report full-year sales of $116.73 million for the current fiscal year, with estimates ranging from $423.10 million to $424.59 million. For the next fiscal year, analysts expect that the firm will report sales of $557.68 million per share, with estimates ranging from $550.60 million to $566.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Wix.Com.

Wix.Com (NASDAQ:WIX) last released its earnings results on Wednesday, November 8th. The information services provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.18). Wix.Com had a negative return on equity of 33,346.88% and a negative net margin of 14.27%.

WIX has been the subject of a number of research reports. UBS Group raised Wix.Com from an “outperform” rating to a “strong-buy” rating in a report on Thursday, January 4th. Wedbush downgraded Wix.Com from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $86.00 to $65.00 in a report on Thursday, November 9th. SunTrust Banks reaffirmed a “buy” rating and set a $73.00 target price on shares of Wix.Com in a report on Monday, November 6th. Raymond James Financial raised Wix.Com from a “market perform” rating to a “strong-buy” rating and set a $74.00 target price for the company in a report on Thursday, January 4th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Wix.Com in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.53.

A number of large investors have recently made changes to their positions in the business. Bamco Inc. NY lifted its holdings in Wix.Com by 91.3% in the third quarter. Bamco Inc. NY now owns 1,500,095 shares of the information services provider’s stock valued at $107,782,000 after acquiring an additional 715,951 shares during the period. Davidson Kempner Capital Management LP acquired a new position in Wix.Com in the third quarter valued at approximately $10,763,000. Point72 Asset Management L.P. acquired a new position in Wix.Com in the third quarter valued at approximately $7,889,000. Granahan Investment Management Inc. MA lifted its holdings in Wix.Com by 29.0% in the third quarter. Granahan Investment Management Inc. MA now owns 198,742 shares of the information services provider’s stock valued at $14,280,000 after acquiring an additional 44,677 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in Wix.Com in the third quarter valued at approximately $2,954,000. 79.23% of the stock is owned by institutional investors.

Shares of Wix.Com (NASDAQ WIX) opened at $58.10 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Wix.Com has a twelve month low of $50.90 and a twelve month high of $86.15. The company has a market capitalization of $2,641.05, a PE ratio of -46.85 and a beta of 2.25.

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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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