Zacks: Analysts Expect Wix.com Ltd. (NASDAQ:WIX) Will Announce Quarterly Sales of $346.64 Million

Analysts expect Wix.com Ltd. (NASDAQ:WIXGet Rating) to post sales of $346.64 million for the current quarter, according to Zacks. Nine analysts have made estimates for Wix.com’s earnings, with the lowest sales estimate coming in at $343.02 million and the highest estimate coming in at $366.00 million. Wix.com reported sales of $316.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.6%. The company is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Wix.com will report full-year sales of $1.43 billion for the current year, with estimates ranging from $1.41 billion to $1.48 billion. For the next year, analysts forecast that the company will report sales of $1.66 billion, with estimates ranging from $1.61 billion to $1.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Wix.com.

Wix.com (NASDAQ:WIXGet Rating) last released its quarterly earnings results on Monday, May 16th. The information services provider reported ($0.72) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $341.60 million for the quarter, compared to analysts’ expectations of $340.47 million. During the same quarter last year, the firm posted ($1.36) EPS. The company’s revenue was up 12.3% compared to the same quarter last year.

WIX has been the topic of a number of recent analyst reports. Wolfe Research cut their price objective on Wix.com from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, February 17th. Atlantic Securities lowered Wix.com from an “overweight” rating to a “neutral” rating and set a $100.00 price target on the stock. in a research report on Tuesday, March 1st. Barclays dropped their price target on Wix.com from $170.00 to $105.00 in a research report on Thursday, February 17th. Morgan Stanley cut Wix.com from an “overweight” rating to an “equal weight” rating and set a $85.00 price objective for the company. in a research note on Friday, May 20th. Finally, Guggenheim cut Wix.com from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $145.12.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. raised its stake in Wix.com by 202.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider’s stock worth $255,000 after acquiring an additional 1,413 shares during the last quarter. US Bancorp DE increased its stake in shares of Wix.com by 35.1% in the 3rd quarter. US Bancorp DE now owns 4,299 shares of the information services provider’s stock valued at $843,000 after purchasing an additional 1,118 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Wix.com by 8.0% in the 3rd quarter. Geode Capital Management LLC now owns 484,890 shares of the information services provider’s stock valued at $94,819,000 after purchasing an additional 35,733 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Wix.com by 42.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,675 shares of the information services provider’s stock valued at $6,012,000 after purchasing an additional 9,100 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Wix.com by 3.9% in the 3rd quarter. Macquarie Group Ltd. now owns 76,459 shares of the information services provider’s stock valued at $14,984,000 after purchasing an additional 2,851 shares in the last quarter. 89.89% of the stock is currently owned by institutional investors and hedge funds.

WIX opened at $66.81 on Friday. The stock’s 50 day simple moving average is $83.12 and its 200 day simple moving average is $113.61. The company has a debt-to-equity ratio of 6.33, a current ratio of 1.58 and a quick ratio of 1.79. Wix.com has a 1 year low of $56.24 and a 1 year high of $309.00. The firm has a market cap 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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