$116.73 Million in Sales Expected for Wix.Com Ltd (WIX) This Quarter

Equities analysts expect Wix.Com Ltd (NASDAQ:WIX) to report sales of $116.73 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Wix.Com’s earnings, with estimates ranging from $116.16 million to $117.50 million. Wix.Com reported sales of $84.18 million in the same quarter last year, which would suggest a positive year over year growth rate of 38.7%. The company is expected to issue its next earnings report on Wednesday, February 21st.

On average, analysts expect that Wix.Com will report full-year sales of $116.73 million for the current fiscal year, with estimates ranging from $423.10 million to $424.59 million. For the next financial year, analysts forecast that the firm will report sales of $557.68 million per share, with estimates ranging from $550.60 million to $566.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Wix.Com.

Several analysts recently commented on the stock. BidaskClub downgraded shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Thursday. UBS Group upgraded shares of Wix.Com from an “outperform” rating to a “strong-buy” rating in a research report on Thursday. Raymond James Financial upgraded shares of Wix.Com from a “market perform” rating to a “strong-buy” rating in a research report on Thursday. Oppenheimer cut their price objective on shares of Wix.Com from $88.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Finally, Wedbush downgraded shares of Wix.Com from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $86.00 to $65.00 in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $77.79.

Shares of Wix.Com (NASDAQ:WIX) opened at $58.30 on Thursday. Wix.Com has a 12-month low of $44.65 and a 12-month high of $86.15. The company has a market cap of $2,650.00, a price-to-earnings ratio of -45.91 and a beta of 2.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its stake in Wix.Com by 23.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,414,400 shares of the information services provider’s stock valued at $168,042,000 after acquiring an additional 462,700 shares during the last quarter. Bamco Inc. NY grew its stake in Wix.Com by 91.3% in the 3rd quarter. Bamco Inc. NY now owns 1,500,095 shares of the information services provider’s stock valued at $107,782,000 after acquiring an additional 715,951 shares during the last quarter. Menora Mivtachim Holdings LTD. grew its stake in Wix.Com by 146.1% in the 3rd quarter. Menora Mivtachim Holdings LTD. now owns 1,050,796 shares of the information services provider’s stock valued at $75,500,000 after acquiring an additional 623,876 shares during the last quarter. Light Street Capital Management LLC grew its stake in Wix.Com by 141.2% in the 2nd quarter. Light Street Capital Management LLC now owns 1,025,000 shares of the information services provider’s stock valued at $71,340,000 after acquiring an additional 600,000 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Wix.Com by 46.6% in the 3rd quarter. Victory Capital Management Inc. now owns 928,230 shares of the information services provider’s stock valued at $66,693,000 after acquiring an additional 295,240 shares during the last quarter. 79.23% of the stock is currently owned by hedge funds and other institutional investors.

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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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