Wix.com (NASDAQ:WIX) Issues Earnings Results

Wix.com (NASDAQ:WIX) announced its quarterly earnings results on Wednesday. The information services provider reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($1.54) by $1.00, MarketWatch Earnings reports. Wix.com had a negative return on equity of 46.89% and a negative net margin of 15.92%. The company had revenue of $304.10 million during the quarter, compared to analysts’ expectations of $295.05 million. During the same period in the prior year, the business posted ($0.01) EPS. Wix.com’s revenue was up 40.8% on a year-over-year basis. Wix.com updated its Q2 2021 guidance to – EPS.

WIX stock traded down $54.54 during midday trading on Wednesday, reaching $235.36. The company had a trading volume of 86,371 shares, compared to its average volume of 644,805. Wix.com has a 1-year low of $162.18 and a 1-year high of $362.07. The stock has a 50 day moving average price of $294.18 and a 200-day moving average price of $278.54. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of -93.47 and a beta of 1.64.

Several brokerages have commented on WIX. Wedbush upped their target price on shares of Wix.com from $360.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, February 25th. Wolfe Research assumed coverage on shares of Wix.com in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $350.00 price objective for the company. Needham & Company LLC initiated coverage on Wix.com in a report on Monday, May 3rd. They set a “buy” rating and a $340.00 target price on the stock. Evercore ISI began coverage on Wix.com in a research note on Tuesday, April 13th. They issued an “outperform” rating and a $370.00 target price for the company. Finally, Citigroup raised their price target on Wix.com from $330.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 25th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Wix.com has an average rating of “Buy” and a consensus target price of $317.68.

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 for Wix.com (NASDAQ:WIX)

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