$314.83 Million in Sales Expected for Wix.com Ltd. (NASDAQ:WIX) This Quarter

Equities research analysts expect Wix.com Ltd. (NASDAQ:WIX) to announce $314.83 million in sales for the current quarter, Zacks reports. Nine analysts have made estimates for Wix.com’s earnings, with estimates ranging from $312.50 million to $317.47 million. Wix.com reported sales of $254.18 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.9%. The company is expected to issue its next earnings report on Thursday, November 11th.

According to Zacks, analysts expect that Wix.com will report full-year sales of $1.27 billion for the current financial year, with estimates ranging from $1.26 billion to $1.30 billion. For the next year, analysts expect that the company will post sales of $1.55 billion, with estimates ranging from $1.47 billion to $1.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Wix.com.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, August 11th. The information services provider reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.02) by $0.74. Wix.com had a negative return on equity of 86.14% and a negative net margin of 17.58%.

Several research analysts have recently commented on WIX shares. Wedbush cut their price objective on Wix.com from $340.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. JMP Securities dropped their target price on Wix.com from $350.00 to $282.00 and set an “outperform” rating for the company in a research report on Thursday, August 12th. Barclays downgraded Wix.com from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $290.00 to $280.00 in a research report on Monday, June 28th. Guggenheim lowered their price objective on Wix.com from $350.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, August 12th. Finally, Raymond James downgraded Wix.com from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 11th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $288.45.

Shares of NASDAQ WIX traded down $2.26 during midday trading on Friday, hitting $212.52. 11,230 shares of the company’s stock were exchanged, compared to its average volume of 742,802. Wix.com has a 12-month low of $196.19 and a 12-month high of $362.07. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 3.02. The company has a market cap of $11.91 billion, a price-to-earnings ratio of -57.03 and a beta of 1.35. The business’s fifty day moving average price is $254.65 and its two-hundred day moving average price is $274.31.

A number of hedge funds have recently bought and sold shares of WIX. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Wix.com by 202.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider’s stock worth $255,000 after purchasing an additional 1,413 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Wix.com during the 1st quarter worth approximately $231,000. Comerica Bank lifted its stake in shares of Wix.com by 5.0% during the 1st quarter. Comerica Bank now owns 5,064 shares of the information services provider’s stock worth $1,499,000 after acquiring an additional 239 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Wix.com by 9.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,921 shares of the information services provider’s stock valued at $512,000 after purchasing an additional 163 shares in the last quarter. Finally, US Bancorp DE raised its position in Wix.com by 39.6% during the 1st quarter. US Bancorp DE now owns 2,766 shares of the information services provider’s stock valued at $773,000 after purchasing an additional 785 shares in the last quarter. 91.39% of the stock is currently owned by institutional investors.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.

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Earnings History and Estimates for Wix.com (NASDAQ:WIX)

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