Equities research analysts forecast that Wix.Com Ltd (NASDAQ:WIX) will announce $144.69 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Wix.Com’s earnings, with the lowest sales estimate coming in at $144.23 million and the highest estimate coming in at $145.01 million. Wix.Com posted sales of $103.52 million during the same quarter last year, which indicates a positive year over year growth rate of 39.8%. The firm is expected to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that Wix.Com will report full year sales of $595.95 million for the current fiscal year, with estimates ranging from $592.68 million to $597.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $751.50 million per share, with estimates ranging from $727.32 million to $768.38 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Wix.Com.
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Wix.Com (NASDAQ:WIX) last posted its earnings results on Wednesday, May 9th. The information services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.36. The company had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $135.74 million. Wix.Com had a negative return on equity of 376.10% and a negative net margin of 11.72%. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) earnings per share.
Several equities research analysts have issued reports on the company. SunTrust Banks raised their target price on Wix.Com to $98.00 and gave the stock a “buy” rating in a research note on Friday, May 18th. Raymond James cut Wix.Com from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, May 10th. Oppenheimer raised their target price on Wix.Com from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, May 10th. Needham & Company LLC raised their target price on Wix.Com to $98.00 and gave the stock a “buy” rating in a research note on Monday, May 14th. They noted that the move was a valuation call. Finally, Barclays restated a “buy” rating and set a $87.00 price target on shares of Wix.Com in a research report on Friday, May 11th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.62.
WIX stock traded up $1.25 during midday trading on Friday, hitting $85.75. 195,031 shares of the company’s stock were exchanged, compared to its average volume of 611,247. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.03. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -85.75 and a beta of 1.73. Wix.Com has a 1-year low of $50.90 and a 1-year high of $89.95.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its holdings in Wix.Com by 14.8% in the fourth quarter. SG Americas Securities LLC now owns 6,661 shares of the information services provider’s stock valued at $383,000 after purchasing an additional 859 shares during the period. Pier 88 Investment Partners LLC purchased a new position in Wix.Com in the fourth quarter valued at $475,000. Taylor Frigon Capital Management LLC purchased a new position in Wix.Com in the fourth quarter valued at $1,335,000. Parametrica Management Ltd purchased a new position in Wix.Com in the fourth quarter valued at $246,000. Finally, Victory Capital Management Inc. boosted its holdings in Wix.Com by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 948,740 shares of the information services provider’s stock valued at $54,600,000 after purchasing an additional 20,510 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.
Wix.Com Company Profile
Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.
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