$109.74 Million in Sales Expected for Wix.Com Ltd (NASDAQ:WIX) This Quarter

Equities analysts forecast that Wix.Com Ltd (NASDAQ:WIX) will post sales of $109.74 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Wix.Com’s earnings, with the lowest sales estimate coming in at $108.88 million and the highest estimate coming in at $110.90 million. Wix.Com posted sales of $75.61 million during the same quarter last year, which would indicate a positive year over year growth rate of 45.1%. The firm is scheduled to issue its next earnings results on Thursday, November 9th.

According to Zacks, analysts expect that Wix.Com will report full-year sales of $109.74 million for the current year, with estimates ranging from $422.28 million to $425.30 million. For the next financial year, analysts forecast that the business will report sales of $556.19 million per share, with estimates ranging from $543.94 million to $570.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Wix.Com.

Wix.Com (NASDAQ:WIX) last posted its quarterly earnings results on Thursday, July 27th. The information services provider reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.16. The business had revenue of $103.50 million for the quarter, compared to analysts’ expectations of $101.93 million. The business’s revenue was up 50.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) EPS.

Several equities analysts recently weighed in on WIX shares. Needham & Company LLC restated a “buy” rating and issued a $86.00 price objective (up from $73.00) on shares of Wix.Com in a report on Thursday, May 11th. Bank of America Corporation increased their price objective on shares of Wix.Com from $70.00 to $97.00 and gave the company a “buy” rating in a report on Friday, May 12th. BidaskClub upgraded shares of Wix.Com from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Barclays PLC restated a “buy” rating and issued a $77.00 price objective on shares of Wix.Com in a report on Wednesday, August 2nd. Finally, Stephens lowered shares of Wix.Com from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 27th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $71.59.

A number of large investors have recently bought and sold shares of the company. Westpac Banking Corp purchased a new stake in Wix.Com during the first quarter valued at $137,000. Eqis Capital Management Inc. purchased a new stake in Wix.Com during the second quarter valued at $207,000. First Mercantile Trust Co. purchased a new stake in Wix.Com during the first quarter valued at $220,000. Group One Trading L.P. purchased a new stake in Wix.Com during the first quarter valued at $228,000. Finally, Legal & General Group Plc raised its stake in Wix.Com by 500.0% in the first quarter. Legal & General Group Plc now owns 3,600 shares of the information services provider’s stock valued at $245,000 after buying an additional 3,000 shares during the period. Institutional investors own 77.92% of the company’s stock.

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Wix.Com (WIX) opened at 58.65 on Wednesday. Wix.Com has a 52-week low of $36.05 and a 52-week high of $86.15. The firm has a 50-day moving average of $70.74 and a 200 day moving average of $68.60. The firm’s market cap is $2.66 billion.

Wix.Com Company Profile

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

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