Wix.com (WIX) Declines More Than Market: Some Information for Investors
In the latest trading session, Wix.com (WIX) closed at $87.67, marking a -1.09% move from the previous day. This change lagged the S&P 500's 0.13% loss on the day. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.12%.
Shares of the cloud-based web development company have depreciated by 8.51% over the course of the past month, underperforming the Computer and Technology sector's loss of 5.08% and the S&P 500's loss of 5.53%.
Investors will be eagerly watching for the performance of Wix.com in its upcoming earnings disclosure. On that day, Wix.com is projected to report earnings of $0.73 per share, which would represent year-over-year growth of 1116.67%. Our most recent consensus estimate is calling for quarterly revenue of $389.47 million, up 12.62% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.35 per share and a revenue of $1.55 billion, demonstrating changes of +2070.59% and +11.84%, respectively, from the preceding year.
Any recent changes to analyst estimates for Wix.com should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Wix.com currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Wix.com is currently trading at a Forward P/E ratio of 26.44. This indicates a premium in contrast to its industry's Forward P/E of 24.09.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wix.com Ltd. (WIX) : Free Stock Analysis Report
