Wix.com Ltd. (NASDAQ:WIX) Expected to Announce Quarterly Sales of $314.83 Million

Wall Street analysts predict that Wix.com Ltd. (NASDAQ:WIX) will announce sales of $314.83 million for the current quarter, according to Zacks. Nine analysts have made estimates for Wix.com’s earnings, with the highest sales estimate coming in at $317.47 million and the lowest estimate coming in at $312.50 million. Wix.com posted sales of $254.18 million in the same quarter last year, which suggests a positive year over year growth rate of 23.9%. The company is expected to issue its next earnings results on Thursday, November 11th.

On average, 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 fiscal year, analysts forecast that the business will report sales of $1.55 billion, with estimates ranging from $1.47 billion to $1.62 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Wix.com.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 11th. The information services provider reported ($0.28) EPS for the quarter, topping 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 analysts have weighed in on WIX shares. Atlantic Securities started coverage on Wix.com in a research report on Tuesday, June 8th. They issued an “overweight” rating and a $300.00 price objective for the company. Morgan Stanley lowered their price objective on Wix.com from $339.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, August 12th. Truist decreased their target price on Wix.com from $350.00 to $290.00 and set a “buy” rating for the company in a report on Thursday, August 19th. JMP Securities decreased their target price on Wix.com from $350.00 to $282.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. Finally, Citigroup decreased their target price on Wix.com from $320.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, August 17th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $288.45.

Several institutional investors have recently made changes to their positions in WIX. Flossbach Von Storch AG boosted its holdings in shares of Wix.com by 149.0% in the 2nd quarter. Flossbach Von Storch AG now owns 3,141,349 shares of the information services provider’s stock worth $911,871,000 after purchasing an additional 1,879,849 shares during the period. BlackRock Inc. lifted its stake in shares of Wix.com by 35.3% during the 2nd quarter. BlackRock Inc. now owns 5,983,471 shares of the information services provider’s stock worth $1,736,882,000 after acquiring an additional 1,560,934 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Wix.com by 244.1% during the 1st quarter. Jennison Associates LLC now owns 1,448,141 shares of the information services provider’s stock worth $404,350,000 after acquiring an additional 1,027,321 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Wix.com by 228.4% during the 1st quarter. Janus Henderson Group PLC now owns 937,551 shares of the information services provider’s stock worth $261,784,000 after acquiring an additional 652,031 shares during the last quarter. Finally, Marcho Partners LLP bought a new stake in shares of Wix.com during the 2nd quarter worth approximately $152,806,000. Hedge funds and other institutional investors own 91.39% of the company’s stock.

WIX stock traded down $2.26 during mid-day trading on Friday, reaching $212.52. 11,230 shares of the company traded hands, compared to its average volume of 742,802. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $11.91 billion, a P/E ratio of -57.03 and a beta of 1.35. Wix.com has a 52-week low of $196.19 and a 52-week high of $362.07. The company has a fifty day moving average price of $254.65 and a 200-day moving average price of $274.31.

About Wix.com

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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