Wix.com Ltd. (NASDAQ:WIX) Expected to Announce Earnings of -$0.79 Per Share


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Wall Street brokerages expect Wix.com Ltd. (NASDAQ:WIX) to announce earnings of ($0.79) per share for the current quarter, according to Zacks. Nine analysts have made estimates for Wix.com’s earnings. The lowest EPS estimate is ($0.89) and the highest is ($0.60). Wix.com reported earnings of ($0.01) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 7,800%. The firm is expected to report its next earnings report before the market opens on Wednesday, May 12th.

On average, analysts expect that Wix.com will report full-year earnings of ($1.22) per share for the current financial year, with EPS estimates ranging from ($1.79) to ($0.70). For the next financial year, analysts expect that the company will post earnings of ($0.08) per share, with EPS estimates ranging from ($0.95) to $0.96. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Wix.com.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 17th. The information services provider reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.77. The firm had revenue of $282.53 million for the quarter, compared to analyst estimates of $270.25 million. Wix.com had a negative net margin of 15.92% and a negative return on equity of 46.89%.

Several research analysts have recently issued reports on WIX shares. Needham & Company LLC began coverage on shares of Wix.com in a report on Monday. They issued a “buy” rating and a $340.00 target price for the company. Evercore ISI assumed coverage on shares of Wix.com in a research note on Tuesday, April 13th. They issued an “outperform” rating and a $370.00 target price for the company. KeyCorp raised their target price on shares of Wix.com from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Wednesday, March 24th. Citigroup raised their target price on shares of Wix.com from $330.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Finally, Zacks Investment Research upgraded shares of Wix.com from a “sell” rating to a “hold” rating and set a $310.00 price target for the company in a report on Tuesday, April 20th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $316.37.

Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Wix.com by 55.7% during the fourth quarter. BlackRock Inc. now owns 4,280,647 shares of the information services provider’s stock valued at $1,069,990,000 after purchasing an additional 1,532,220 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Wix.com by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 2,685,763 shares of the information services provider’s stock worth $671,333,000 after buying an additional 11,151 shares during the period. Jackson Square Partners LLC increased its holdings in Wix.com by 11.5% during the 4th quarter. Jackson Square Partners LLC now owns 2,628,255 shares of the information services provider’s stock valued at $656,958,000 after purchasing an additional 270,904 shares during the period. Flossbach Von Storch AG purchased a new position in Wix.com during the 1st quarter valued at about $352,236,000. Finally, Winslow Capital Management LLC boosted its position in Wix.com by 43.5% during the 4th quarter. Winslow Capital Management LLC now owns 1,060,388 shares of the information services provider’s stock valued at $265,054,000 after acquiring an additional 321,263 shares in the last quarter. 91.71% of the stock is owned by institutional investors.

WIX traded down $24.19 during trading hours on Tuesday, hitting $289.45. 1,112,664 shares of the company’s stock were exchanged, compared to its average volume of 646,068. Wix.com has a 12-month low of $126.34 and a 12-month high of $362.07. The firm has a 50 day moving average of $295.72 and a 200 day moving average of $278.12. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.81. The firm has a market cap of $16.22 billion, a P/E ratio of -112.19 and a beta of 1.64.

About Wix.com

Wix.com Ltd., together with its subsidiaries, develops and markets cloud-based platform products and services 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; Editor X, a website creation platform; and Velo by Wix to create websites and web applications.

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

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