Zacks: Analysts Anticipate Wix.com Ltd. (NASDAQ:WIX) to Post -$0.35 EPS

Wall Street brokerages expect Wix.com Ltd. (NASDAQ:WIXGet Rating) to announce ($0.35) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Wix.com’s earnings. The lowest EPS estimate is ($0.91) and the highest is $0.01. Wix.com posted earnings per share of ($0.28) during the same quarter last year, which would suggest a negative year over year growth rate of 25%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Wix.com will report full-year earnings of ($1.21) per share for the current fiscal year, with EPS estimates ranging from ($2.94) to ($0.24). For the next year, analysts expect that the company will post earnings of ($0.17) per share, with EPS estimates ranging from ($1.11) to $1.26. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that follow Wix.com.

Wix.com (NASDAQ:WIXGet Rating) last issued its quarterly earnings data on Monday, May 16th. The information services provider reported ($0.72) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.75) by $1.03. Wix.com had a negative return on equity of 136.41% and a negative net margin of 21.70%. The business had revenue of $341.60 million during the quarter, compared to analysts’ expectations of $340.47 million. During the same period in the previous year, the firm posted ($1.36) earnings per share. The company’s revenue was up 12.3% on a year-over-year basis.

Several research firms have issued reports on WIX. StockNews.com cut Wix.com from a “hold” rating to a “sell” rating in a research report on Monday. Barclays decreased their price target on Wix.com from $170.00 to $105.00 in a research note on Thursday, February 17th. Wedbush reissued an “outperform” rating on shares of Wix.com in a research note on Monday, May 16th. Wolfe Research decreased their price target on Wix.com from $200.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, February 17th. Finally, Truist Financial decreased their price target on Wix.com from $170.00 to $120.00 in a research note on Tuesday, May 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $145.12.

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC bought a new stake in shares of Wix.com during the fourth quarter worth approximately $44,000. Parallel Advisors LLC raised its stake in shares of Wix.com by 73.3% during the fourth quarter. Parallel Advisors LLC now owns 298 shares of the information services provider’s stock worth $47,000 after buying an additional 126 shares during the last quarter. UMB Bank N A MO bought a new stake in Wix.com in the fourth quarter valued at approximately $47,000. Lindbrook Capital LLC increased its stake in Wix.com by 207.0% in the first quarter. Lindbrook Capital LLC now owns 482 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 325 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Wix.com by 105.1% in the first quarter. Steward Partners Investment Advisory LLC now owns 640 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 328 shares in the last quarter. 89.89% of the stock is owned by institutional investors and hedge funds.

NASDAQ:WIX traded up $2.30 during midday trading on Friday, reaching $66.81. The company had a trading volume of 1,145,270 shares, compared to its average volume of 1,279,796. The stock’s fifty day simple moving average is $83.12 and its 200-day simple moving average is $114.20. The company has a current ratio of 1.58, a quick ratio of 1.79 and a debt-to-equity ratio of 6.33. Wix.com has a 12-month low of $56.24 and a 12-month high of $309.00. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of -13.34 and a beta of 1.56.

About Wix.com (Get Rating)

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application 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; and Corvid 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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