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Wix.com (WIX) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Wix.com (WIX - Free Report) closed at $122.18, marking a -0.02% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the cloud-based web development company had gained 13.62% over the past month. This has outpaced the Computer and Technology sector's gain of 1.51% and the S&P 500's gain of 3.4% in that time.
Investors will be eagerly watching for the performance of Wix.com in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 60.66% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $402.61 million, indicating a 13.4% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Wix.com. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 16.64% rise in the Zacks Consensus EPS estimate. Right now, Wix.com possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Wix.com is holding a Forward P/E ratio of 26.19. This expresses a premium compared to the average Forward P/E of 25.89 of its industry.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Wix.com (WIX) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Wix.com (WIX - Free Report) closed at $122.18, marking a -0.02% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.57%. At the same time, the Dow added 0.46%, and the tech-heavy Nasdaq gained 0.75%.
Prior to today's trading, shares of the cloud-based web development company had gained 13.62% over the past month. This has outpaced the Computer and Technology sector's gain of 1.51% and the S&P 500's gain of 3.4% in that time.
Investors will be eagerly watching for the performance of Wix.com in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.98, reflecting a 60.66% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $402.61 million, indicating a 13.4% growth compared to the corresponding quarter of the prior year.
Investors should also note any recent changes to analyst estimates for Wix.com. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 16.64% rise in the Zacks Consensus EPS estimate. Right now, Wix.com possesses a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Wix.com is holding a Forward P/E ratio of 26.19. This expresses a premium compared to the average Forward P/E of 25.89 of its industry.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 51, this industry ranks in the top 21% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.