Brokerages Anticipate Wix.Com Ltd (NASDAQ:WIX) Will Announce Quarterly Sales of $197.73 Million

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Analysts forecast that Wix.Com Ltd (NASDAQ:WIX) will report $197.73 million in sales for the current quarter, Zacks reports. Eleven analysts have provided estimates for Wix.Com’s earnings. The highest sales estimate is $199.84 million and the lowest is $196.83 million. Wix.Com posted sales of $155.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 27.1%. The business is expected to report its next quarterly earnings report on Tuesday, November 12th.

According to Zacks, analysts expect that Wix.Com will report full year sales of $764.53 million for the current financial year, with estimates ranging from $762.26 million to $767.06 million. For the next year, analysts anticipate that the firm will post sales of $962.89 million, with estimates ranging from $938.00 million to $989.29 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Wix.Com.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, July 24th. The information services provider reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.17. Wix.Com had a negative net margin of 8.70% and a negative return on equity of 21.60%. The company had revenue of $185.40 million during the quarter, compared to the consensus estimate of $183.92 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 26.9% compared to the same quarter last year.

Several equities analysts recently issued reports on WIX shares. ValuEngine upgraded Wix.Com from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 18th. Royal Bank of Canada lifted their price objective on Wix.Com to $166.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank lifted their price objective on Wix.Com from $135.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup lifted their price objective on Wix.Com from $125.00 to $155.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, SunTrust Banks lifted their price objective on Wix.Com to $168.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $136.39.

Shares of NASDAQ WIX traded down $2.59 during trading hours on Tuesday, reaching $123.81. The stock had a trading volume of 311,905 shares, compared to its average volume of 620,566. The business’s fifty day moving average is $143.90 and its two-hundred day moving average is $134.18. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.93 and a quick ratio of 1.93. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -281.39 and a beta of 1.55. Wix.Com has a twelve month low of $80.20 and a twelve month high of $155.75.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of Wix.Com by 377.0% during the 4th quarter. Geode Capital Management LLC now owns 176,387 shares of the information services provider’s stock valued at $15,906,000 after purchasing an additional 139,411 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Wix.Com during the first quarter valued at approximately $242,000. Nissay Asset Management Corp Japan ADV lifted its position in Wix.Com by 4.0% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 3,860 shares of the information services provider’s stock valued at $466,000 after buying an additional 149 shares in the last quarter. American International Group Inc. acquired a new position in Wix.Com during the first quarter valued at approximately $582,000. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Wix.Com by 19.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,563 shares of the information services provider’s stock valued at $2,243,000 after buying an additional 3,049 shares in the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.

About Wix.Com

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

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