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Wix.com (WIX - Free Report) closed the latest trading day at $129.21, indicating a +0.99% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.23%. On the other hand, the Dow registered a gain of 0.37%, and the technology-centric Nasdaq increased by 0.07%.
Prior to today's trading, shares of the cloud-based web development company had gained 6.21% over the past month. This has lagged the Computer and Technology sector's gain of 11.06% and outpaced the S&P 500's gain of 5.3% in that time.
Market participants will be closely following the financial results of Wix.com in its upcoming release. The company plans to announce its earnings on February 21, 2024. In that report, analysts expect Wix.com to post earnings of $0.98 per share. This would mark year-over-year growth of 60.66%. 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Wix.com. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has remained steady. Wix.com is currently sporting 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 27.42. This represents a discount compared to its industry's average Forward P/E of 27.65.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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) Rises Higher Than Market: Key Facts
Wix.com (WIX - Free Report) closed the latest trading day at $129.21, indicating a +0.99% change from the previous session's end. This move outpaced the S&P 500's daily gain of 0.23%. On the other hand, the Dow registered a gain of 0.37%, and the technology-centric Nasdaq increased by 0.07%.
Prior to today's trading, shares of the cloud-based web development company had gained 6.21% over the past month. This has lagged the Computer and Technology sector's gain of 11.06% and outpaced the S&P 500's gain of 5.3% in that time.
Market participants will be closely following the financial results of Wix.com in its upcoming release. The company plans to announce its earnings on February 21, 2024. In that report, analysts expect Wix.com to post earnings of $0.98 per share. This would mark year-over-year growth of 60.66%. 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.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Wix.com. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has remained steady. Wix.com is currently sporting 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 27.42. This represents a discount compared to its industry's average Forward P/E of 27.65.
The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 34% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.