Zacks: Brokerages Anticipate Wix.com (WIX) Will Announce Quarterly Sales of $134.72 Million

Equities analysts predict that Wix.com (NASDAQ:WIX) will announce sales of $134.72 million for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Wix.com’s earnings, with estimates ranging from $129.32 million to $135.70 million. Wix.com posted sales of $92.54 million in the same quarter last year, which would indicate a positive year over year growth rate of 45.6%. The company is expected to issue its next earnings report on Wednesday, May 9th.

On average, analysts expect that Wix.com will report full-year sales of $134.72 million for the current financial year, with estimates ranging from $563.29 million to $594.59 million. For the next financial year, analysts expect that the business will report sales of $744.01 million per share, with estimates ranging from $713.83 million to $759.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Wix.com.

How to Become a New Pot Stock Millionaire

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 14th. The information services provider reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. The business had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $116.86 million. Wix.com had a negative return on equity of 1,376.12% and a negative net margin of 13.22%. The business’s revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share.

WIX has been the subject of a number of recent analyst reports. UBS upgraded Wix.com from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, January 4th. Raymond James Financial upgraded Wix.com from a “market perform” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research report on Thursday, January 4th. BidaskClub upgraded Wix.com from a “strong sell” rating to a “sell” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded Wix.com from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, Needham & Company LLC boosted their price objective on Wix.com from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the company’s stock. Wix.com has a consensus rating of “Buy” and a consensus target price of $82.50.

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its stake in Wix.com by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 6,661 shares of the information services provider’s stock worth $383,000 after buying an additional 859 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Wix.com by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 21,816 shares of the information services provider’s stock worth $1,255,000 after buying an additional 863 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Wix.com by 16.5% during the third quarter. JPMorgan Chase & Co. now owns 8,705 shares of the information services provider’s stock worth $615,000 after buying an additional 1,234 shares during the last quarter. California Public Employees Retirement System boosted its stake in Wix.com by 9.6% during the fourth quarter. California Public Employees Retirement System now owns 17,100 shares of the information services provider’s stock worth $984,000 after buying an additional 1,500 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Wix.com by 51.4% during the third quarter. Legal & General Group Plc now owns 5,600 shares of the information services provider’s stock worth $402,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 82.34% of the company’s stock.

Shares of Wix.com stock traded down $2.50 on Friday, reaching $77.05. The company’s stock had a trading volume of 364,247 shares, compared to its average volume of 653,697. The stock has a market capitalization of $3,729.97, a PE ratio of -76.75 and a beta of 1.73. Wix.com has a 52-week low of $50.90 and a 52-week high of $87.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.86.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Enterprise Leader and is owned by of Enterprise Leader. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://theenterpriseleader.com/2018/04/02/zacks-brokerages-anticipate-wix-com-wix-will-announce-quarterly-sales-of-134-72-million.html.

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.

Get a free copy of the Zacks research report on Wix.com (WIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Wix.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wix.com and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply