Brokerages Anticipate Wix.com Ltd. (NASDAQ:WIX) to Announce -$0.34 EPS

Equities research analysts forecast that Wix.com Ltd. (NASDAQ:WIX) will announce earnings per share (EPS) of ($0.34) for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Wix.com’s earnings, with the lowest EPS estimate coming in at ($0.47) and the highest estimate coming in at ($0.20). Wix.com posted earnings of ($0.14) per share in the same quarter last year, which indicates a negative year-over-year growth rate of 142.9%. The firm is expected to issue its next earnings results on Thursday, November 11th.

On average, analysts expect that Wix.com will report full-year earnings of ($1.40) per share for the current year, with EPS estimates ranging from ($1.67) to ($1.18). For the next financial year, analysts anticipate that the company will post earnings of ($0.76) per share, with EPS estimates ranging from ($1.62) to $0.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Wix.com.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 11th. The information services provider reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.02) by $0.74. Wix.com had a negative return on equity of 86.14% and a negative net margin of 17.58%.

Several analysts have weighed in on the company. Citigroup dropped their price target on Wix.com from $320.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, August 17th. Morgan Stanley decreased their price objective on Wix.com from $339.00 to $305.00 and set an “overweight” rating for the company in a report on Thursday, August 12th. Royal Bank of Canada decreased their price objective on Wix.com from $315.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. JMP Securities decreased their price objective on Wix.com from $350.00 to $282.00 and set an “outperform” rating for the company in a report on Thursday, August 12th. Finally, Raymond James cut Wix.com from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 11th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Wix.com has an average rating of “Buy” and a consensus price target of $288.45.

Institutional investors have recently made changes to their positions in the stock. Wagner Wealth Management LLC acquired a new position in Wix.com in the 1st quarter worth $32,000. Prime Capital Investment Advisors LLC lifted its holdings in Wix.com by 306.5% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 126 shares of the information services provider’s stock worth $35,000 after buying an additional 95 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Wix.com in the 1st quarter worth $40,000. Red Door Wealth Management LLC acquired a new position in Wix.com in the 2nd quarter worth $40,000. Finally, Optimum Investment Advisors lifted its holdings in Wix.com by 50.0% in the 2nd quarter. Optimum Investment Advisors now owns 150 shares of the information services provider’s stock worth $44,000 after buying an additional 50 shares in the last quarter. 91.39% of the stock is owned by hedge funds and other institutional investors.

Wix.com stock traded down $2.26 during trading hours on Wednesday, hitting $212.52. 11,230 shares of the stock traded hands, compared to its average volume of 742,802. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50 day moving average price is $254.65 and its 200-day moving average price is $274.31. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of -57.03 and a beta of 1.35. Wix.com has a 1 year low of $196.19 and a 1 year high of $362.07.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.

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

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