Brokerages forecast that Wix.com Ltd. (NASDAQ:WIX – Get Rating) will report earnings per share of ($0.35) for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Wix.com’s earnings, with the lowest EPS estimate coming in at ($0.91) and the highest estimate coming in at $0.01. Wix.com reported earnings of ($0.28) per share during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The business is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Wix.com will report full year earnings of ($1.21) per share for the current year, with EPS estimates ranging from ($2.94) to ($0.24). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.17) per share, with EPS estimates ranging from ($1.11) to $1.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Wix.com.
Wix.com (NASDAQ:WIX – Get Rating) last issued its quarterly earnings data on Monday, May 16th. The information services provider reported ($0.72) EPS for the quarter, topping the consensus estimate of ($1.75) by $1.03. The business had revenue of $341.60 million for the quarter, compared to the consensus estimate of $340.47 million. Wix.com had a negative return on equity of 136.41% and a negative net margin of 21.70%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.36) EPS.
Several analysts recently commented on WIX shares. Bank of America dropped their price objective on Wix.com from $320.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, February 17th. Truist Financial dropped their price target on Wix.com from $170.00 to $120.00 in a research note on Tuesday, May 17th. Barclays dropped their price target on Wix.com from $170.00 to $105.00 in a research note on Thursday, February 17th. Benchmark assumed coverage on Wix.com in a research note on Wednesday, April 13th. They issued a “hold” rating on the stock. Finally, Evercore ISI dropped their price target on Wix.com from $145.00 to $105.00 and set a “na” rating on the stock in a research note on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $145.12.
A number of institutional investors have recently bought and sold shares of the stock. LPL Financial LLC grew its holdings in Wix.com by 1.0% during the third quarter. LPL Financial LLC now owns 8,233 shares of the information services provider’s stock worth $1,613,000 after purchasing an additional 78 shares during the period. MML Investors Services LLC boosted its holdings in shares of Wix.com by 4.4% during the third quarter. MML Investors Services LLC now owns 1,916 shares of the information services provider’s stock worth $375,000 after acquiring an additional 80 shares during the period. NEXT Financial Group Inc boosted its holdings in shares of Wix.com by 6.9% during the fourth quarter. NEXT Financial Group Inc now owns 1,348 shares of the information services provider’s stock worth $213,000 after acquiring an additional 87 shares during the period. M&T Bank Corp boosted its holdings in shares of Wix.com by 8.6% during the fourth quarter. M&T Bank Corp now owns 1,351 shares of the information services provider’s stock worth $212,000 after acquiring an additional 107 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Wix.com by 2.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,029 shares of the information services provider’s stock worth $951,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 89.89% of the company’s stock.
Wix.com stock traded up $2.30 during mid-day trading on Friday, hitting $66.81. 1,145,270 shares of the company’s stock were exchanged, compared to its average volume of 1,279,796. The firm has a market capitalization of $3.83 billion, a P/E ratio of -13.34 and a beta of 1.56. Wix.com has a fifty-two week low of $56.24 and a fifty-two week high of $309.00. The company has a quick ratio of 1.79, a current ratio of 1.58 and a debt-to-equity ratio of 6.33. The company’s 50 day simple moving average is $83.12 and its 200-day simple moving average is $114.20.
About Wix.com (Get Rating)
Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.
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