Wall Street brokerages forecast that Wix.Com Ltd (NASDAQ:WIX) will report $0.17 earnings per share for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for Wix.Com’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.02. Wix.Com posted earnings of $0.29 per share in the same quarter last year, which would suggest a negative year over year growth rate of 41.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, July 24th.
On average, analysts expect that Wix.Com will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.44 to $1.33. For the next financial year, analysts forecast that the firm will report earnings of $1.51 per share, with EPS estimates ranging from $0.73 to $2.61. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Wix.Com.
Wix.Com (NASDAQ:WIX) last released its quarterly earnings data on Thursday, May 16th. The information services provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.30. Wix.Com had a negative net margin of 7.51% and a negative return on equity of 19.47%. The business had revenue of $174.29 million during the quarter, compared to the consensus estimate of $172.98 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The business’s revenue was up 26.5% on a year-over-year basis.
Several research analysts have commented on the stock. Wedbush reissued an “outperform” rating and set a $152.00 price objective (up previously from $142.00) on shares of Wix.Com in a report on Tuesday, May 14th. Royal Bank of Canada upped their price target on Wix.Com to $120.00 and gave the stock a “positive” rating in a research note on Thursday, February 21st. Citigroup upped their price target on Wix.Com from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. KeyCorp initiated coverage on Wix.Com in a research note on Monday, April 29th. They set a “sector weight” rating on the stock. Finally, Oppenheimer upped their price target on Wix.Com from $122.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $123.88.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Wix.Com by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 45,416 shares of the information services provider’s stock valued at $5,437,000 after purchasing an additional 982 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Wix.Com by 15,108.6% in the third quarter. JPMorgan Chase & Co. now owns 152,694 shares of the information services provider’s stock valued at $18,277,000 after buying an additional 151,690 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in Wix.Com by 34.3% in the third quarter. TIAA CREF Investment Management LLC now owns 32,244 shares of the information services provider’s stock valued at $3,860,000 after buying an additional 8,234 shares in the last quarter. Vanguard Group Inc. increased its holdings in Wix.Com by 2.4% in the third quarter. Vanguard Group Inc. now owns 30,301 shares of the information services provider’s stock valued at $3,627,000 after buying an additional 719 shares in the last quarter. Finally, Vanguard Group Inc increased its holdings in Wix.Com by 2.4% in the third quarter. Vanguard Group Inc now owns 30,301 shares of the information services provider’s stock valued at $3,627,000 after buying an additional 719 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
Shares of WIX traded up $1.86 during midday trading on Friday, hitting $135.26. 18,379 shares of the company traded hands, compared to its average volume of 722,891. Wix.Com has a 52 week low of $80.20 and a 52 week high of $143.82. The company has a market capitalization of $6.75 billion, a PE ratio of -306.67 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.17.
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.
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