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Strength Seen in Wix.com (WIX): Can Its 8.5% Jump Turn into More Strength?
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Wix.com (WIX - Free Report) shares ended the last trading session 8.5% higher at $63.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 39.4% loss over the past four weeks.
The increase in share price is attributable to the company’s strong top line performance driven by solid bookings’ growth and increasing user base. In 2021, both the company’s total revenues and bookings soared 29% year over year.
The company is well positioned to gain from healthy adoption of its premium subscription services amid higher online selling activity triggered by the coronavirus crisis. Also, Wix’s increasing traction among B2B businesses is driving the subscription growth.
Strengthening momentum across Wix’s Business Solutions, owing to the growing adoption of G-Suite and Wix Payments is another tailwind. For the first quarter of 2022, the company expects revenues between $338 million and $343 million, suggesting 11-13% year over year growth.
This cloud-based web development company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $340.07 million, up 11.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wix.com, the consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WIX going forward to see if this recent jump can turn into more strength down the road.
Wix.com belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, C3.ai, Inc. (AI - Free Report) , closed the last trading session 5.1% higher at $14.56. Over the past month, AI has returned -33.2%.
C3.ai, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.29. Compared to the company's year-ago EPS, this represents a change of -20.8%. C3.ai, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Wix.com (WIX): Can Its 8.5% Jump Turn into More Strength?
Wix.com (WIX - Free Report) shares ended the last trading session 8.5% higher at $63.28. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 39.4% loss over the past four weeks.
The increase in share price is attributable to the company’s strong top line performance driven by solid bookings’ growth and increasing user base. In 2021, both the company’s total revenues and bookings soared 29% year over year.
The company is well positioned to gain from healthy adoption of its premium subscription services amid higher online selling activity triggered by the coronavirus crisis. Also, Wix’s increasing traction among B2B businesses is driving the subscription growth.
Strengthening momentum across Wix’s Business Solutions, owing to the growing adoption of G-Suite and Wix Payments is another tailwind. For the first quarter of 2022, the company expects revenues between $338 million and $343 million, suggesting 11-13% year over year growth.
This cloud-based web development company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of -18.5%. Revenues are expected to be $340.07 million, up 11.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Wix.com, the consensus EPS estimate for the quarter has been revised 0.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on WIX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wix.com belongs to the Zacks Computers - IT Services industry. Another stock from the same industry, C3.ai, Inc. (AI - Free Report) , closed the last trading session 5.1% higher at $14.56. Over the past month, AI has returned -33.2%.
C3.ai, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.29. Compared to the company's year-ago EPS, this represents a change of -20.8%. C3.ai, Inc. currently boasts a Zacks Rank of #3 (Hold).