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Wix.com (WIX) Stock Sinks As Market Gains: What You Should Know
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Wix.com (WIX - Free Report) closed the most recent trading day at $83.62, moving -1.06% from the previous trading session. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the cloud-based web development company had gained 7.01% over the past month. This has outpaced the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Wix.com as it approaches its next earnings release, which is expected to be August 3, 2023. On that day, Wix.com is projected to report earnings of $0.54 per share, which would represent year-over-year growth of 485.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $381.85 million, up 10.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $1.53 billion, which would represent changes of +1429.41% and +10.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Wix.com. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 14.22% higher. Wix.com is currently a Zacks Rank #3 (Hold).
Investors should also note Wix.com's current valuation metrics, including its Forward P/E ratio of 37.35. This represents a premium compared to its industry's average Forward P/E of 21.27.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Wix.com (WIX) Stock Sinks As Market Gains: What You Should Know
Wix.com (WIX - Free Report) closed the most recent trading day at $83.62, moving -1.06% from the previous trading session. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq lost 1.37%.
Prior to today's trading, shares of the cloud-based web development company had gained 7.01% over the past month. This has outpaced the Computer and Technology sector's gain of 1.16% and the S&P 500's gain of 3.43% in that time.
Investors will be hoping for strength from Wix.com as it approaches its next earnings release, which is expected to be August 3, 2023. On that day, Wix.com is projected to report earnings of $0.54 per share, which would represent year-over-year growth of 485.71%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $381.85 million, up 10.61% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $1.53 billion, which would represent changes of +1429.41% and +10.51%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Wix.com. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 14.22% higher. Wix.com is currently a Zacks Rank #3 (Hold).
Investors should also note Wix.com's current valuation metrics, including its Forward P/E ratio of 37.35. This represents a premium compared to its industry's average Forward P/E of 21.27.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 113, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.