Wix.com (WIX) Gains As Market Dips: What You Should Know
In the latest trading session, Wix.com (WIX) closed at $85.65, marking a +0.45% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.01%. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq decreased by 0.25%.
The cloud-based web development company's shares have seen a decrease of 9.96% over the last month, not keeping up with the Computer and Technology sector's loss of 0.05% and the S&P 500's loss of 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Wix.com in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.73, showcasing a 1116.67% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $389.47 million, indicating a 12.62% increase compared to the same quarter of the previous year.
WIX's full-year Zacks Consensus Estimates are calling for earnings of $3.35 per share and revenue of $1.55 billion. These results would represent year-over-year changes of +2070.59% and +11.84%, respectively.
Investors should also note any recent changes to analyst estimates for Wix.com. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Wix.com is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Wix.com is presently trading at a Forward P/E ratio of 25.44. This indicates a premium in contrast to its industry's Forward P/E of 24.45.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Wix.com Ltd. (WIX) : Free Stock Analysis Report
