Wix.com (WIX) Increases Despite Market Slip: Here's What You Need to Know
Wix.com (WIX) closed at $126.10 in the latest trading session, marking a +0.61% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.37%. Elsewhere, the Dow saw a downswing of 0.62%, while the tech-heavy Nasdaq depreciated by 0.19%.
Coming into today, shares of the cloud-based web development company had gained 9.14% in the past month. In that same time, the Computer and Technology sector gained 1.22%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of Wix.com in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.98, indicating a 60.66% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $402.61 million, indicating a 13.4% upward movement from the same quarter last year.
Investors should also take note of any recent adjustments to analyst estimates for Wix.com. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Wix.com is currently sporting a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Wix.com is currently exchanging hands at a Forward P/E ratio of 26.86. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 26.86.
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 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
