Wix.com (WIX) Stock Slides as Market Rises: Facts to Know Before You Trade
Wix.com (WIX) ended the recent trading session at $128.42, demonstrating a -0.91% swing from the preceding day's closing price. This change lagged the S&P 500's 0.58% gain on the day. Elsewhere, the Dow saw an upswing of 0.91%, while the tech-heavy Nasdaq appreciated by 0.3%.
Coming into today, shares of the cloud-based web development company had gained 3.57% in the past month. In that same time, the Computer and Technology sector gained 8.43%, while the S&P 500 gained 4.61%.
The upcoming earnings release of Wix.com will be of great interest to investors. The company's earnings report is expected on February 21, 2024. The company is predicted to post an EPS of $0.98, indicating a 60.66% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $402.61 million, indicating a 13.4% increase compared to the same quarter of the previous year.
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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate remained stagnant. Wix.com currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Wix.com currently has a Forward P/E ratio of 27.78. For comparison, its industry has an average Forward P/E of 28.2, 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. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Wix.com Ltd. (WIX) : Free Stock Analysis Report
