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Wix.com (WIX) Increases Yet Falls Behind Market: What Investors Need to Know
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The latest trading session saw Wix.com (WIX - Free Report) ending at $79.12, denoting a +1.13% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The cloud-based web development company's stock has dropped by 14.77% in the past month, falling short of the Computer and Technology sector's loss of 3.32% and the S&P 500's loss of 3.58%.
Investors will be eagerly watching for the performance of Wix.com in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 9, 2023. The company is predicted to post an EPS of $0.72, indicating a 1100% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $389.51 million, reflecting a 12.64% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.36 per share and revenue of $1.55 billion, indicating changes of +2076.47% and +11.86%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Wix.com. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 has moved 15.27% higher. Currently, Wix.com is carrying a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Wix.com is at present trading with a Forward P/E ratio of 23.3. For comparison, its industry has an average Forward P/E of 22.21, which means Wix.com is trading at a premium to the group.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Wix.com (WIX) Increases Yet Falls Behind Market: What Investors Need to Know
The latest trading session saw Wix.com (WIX - Free Report) ending at $79.12, denoting a +1.13% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The cloud-based web development company's stock has dropped by 14.77% in the past month, falling short of the Computer and Technology sector's loss of 3.32% and the S&P 500's loss of 3.58%.
Investors will be eagerly watching for the performance of Wix.com in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 9, 2023. The company is predicted to post an EPS of $0.72, indicating a 1100% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $389.51 million, reflecting a 12.64% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.36 per share and revenue of $1.55 billion, indicating changes of +2076.47% and +11.86%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Wix.com. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 has moved 15.27% higher. Currently, Wix.com is carrying a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Wix.com is at present trading with a Forward P/E ratio of 23.3. For comparison, its industry has an average Forward P/E of 22.21, which means Wix.com is trading at a premium to the group.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 54, this industry ranks in the top 22% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.