Wix.com Ltd. (WIX) Expected to Post Quarterly Sales of $116.77 Million

Wall Street brokerages forecast that Wix.com Ltd. (NASDAQ:WIX) will announce $116.77 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Wix.com’s earnings. The lowest sales estimate is $116.16 million and the highest is $117.50 million. Wix.com reported sales of $84.18 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.7%. The company is expected to issue its next quarterly earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that Wix.com will report full-year sales of $116.77 million for the current fiscal year, with estimates ranging from $419.95 million to $424.59 million. For the next fiscal year, analysts expect that the business will post sales of $556.45 million per share, with estimates ranging from $547.09 million to $566.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Wix.com.

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Wix.com from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a report on Wednesday, July 26th. KeyCorp assumed coverage on shares of Wix.com in a report on Monday, July 24th. They set an “overweight” rating for the company. BidaskClub upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. SunTrust Banks, Inc. restated a “buy” rating and set a $73.00 price objective on shares of Wix.com in a report on Monday, November 6th. Finally, Northland Securities restated a “buy” rating and set a $75.00 price objective on shares of Wix.com in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.93.

Several institutional investors and hedge funds have recently bought and sold shares of WIX. BT Investment Management Ltd purchased a new position in shares of Wix.com in the second quarter worth about $141,000. Eqis Capital Management Inc. purchased a new position in shares of Wix.com in the second quarter worth about $207,000. Advisor Group Inc. increased its stake in shares of Wix.com by 196.5% in the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock worth $207,000 after purchasing an additional 1,965 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Wix.com by 500.0% in the first quarter. Legal & General Group Plc now owns 3,600 shares of the information services provider’s stock worth $245,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wix.com by 3.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,380 shares of the information services provider’s stock worth $374,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 72.61% of the company’s stock.

Wix.com (NASDAQ:WIX) traded down $0.65 on Friday, hitting $55.00. 487,900 shares of the company were exchanged, compared to its average volume of 780,816. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.86. Wix.com has a one year low of $42.80 and a one year high of $86.15.

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Wix.com Company Profile

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.

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