Wix.Com (WIX) Releases Earnings Results, Beats Estimates By $0.05 EPS

Wix.Com (NASDAQ:WIX) posted its earnings results on Wednesday. The information services provider reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05, Morningstar.com reports. Wix.Com had a negative return on equity of 33,346.88% and a negative net margin of 14.27%. The company had revenue of $118.60 million for the quarter, compared to analyst estimates of $116.86 million. During the same quarter last year, the company earned $0.06 earnings per share. The company’s revenue for the quarter was up 40.9% on a year-over-year basis.

Shares of Wix.Com (NASDAQ:WIX) traded up $2.45 on Wednesday, hitting $65.55. The company had a trading volume of 1,392,400 shares, compared to its average volume of 588,987. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $2,868.31, a P/E ratio of -52.86 and a beta of 2.16. Wix.Com has a one year low of $50.90 and a one year high of $86.15.

Several institutional investors and hedge funds have recently modified their holdings of WIX. Jackson Square Partners LLC increased its position in shares of Wix.Com by 890.0% during the third quarter. Jackson Square Partners LLC now owns 852,230 shares of the information services provider’s stock valued at $61,232,000 after acquiring an additional 766,144 shares during the last quarter. Bamco Inc. NY increased its position in shares of Wix.Com by 91.3% during 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 last quarter. Menora Mivtachim Holdings LTD. increased its position in shares of Wix.Com by 146.1% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,050,796 shares of the information services provider’s stock valued at $75,500,000 after acquiring an additional 623,876 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Wix.Com during the fourth quarter valued at approximately $32,194,000. Finally, Hunt Lane Capital LP increased its position in shares of Wix.Com by 233.3% during the fourth quarter. Hunt Lane Capital LP now owns 700,000 shares of the information services provider’s stock valued at $40,285,000 after acquiring an additional 490,000 shares during the last quarter. 79.05% of the stock is owned by institutional investors.

WIX has been the topic of a number of recent research reports. SunTrust Banks restated a “buy” rating and issued a $73.00 target price on shares of Wix.Com in a report on Monday, November 6th. Royal Bank of Canada restated a “hold” rating and issued a $80.00 target price on shares of Wix.Com in a report on Wednesday, November 8th. KeyCorp restated an “overweight” rating on shares of Wix.Com in a report on Wednesday, November 8th. Wedbush lowered Wix.Com from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $86.00 to $65.00 in a report on Thursday, November 9th. Finally, Oppenheimer dropped their target price on Wix.Com from $88.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.07.

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About Wix.Com

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.

Earnings History for Wix.Com (NASDAQ:WIX)

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