Wix.com (WIX) Gains As Market Dips: What You Should Know
Wix.com (WIX) closed at $127.94 in the latest trading session, marking a +0.15% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.32%. Elsewhere, the Dow lost 0.71%, while the tech-heavy Nasdaq lost 0.2%.
Shares of the cloud-based web development company witnessed a gain of 8.17% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 9.33% and outperforming the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of Wix.com in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. The company is forecasted to report an EPS of $0.98, showcasing a 60.66% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $402.61 million, up 13.4% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Wix.com. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Wix.com currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Wix.com is presently trading at a Forward P/E ratio of 27.38. For comparison, its industry has an average Forward P/E of 27.68, which means Wix.com is trading at a discount to the group.
The Computers - IT Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 35% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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
