Wix.Com (WIX) Posts Quarterly Earnings Results, Beats Expectations By $0.49 EPS
Wix.Com (NASDAQ:WIX) announced its quarterly earnings results on Tuesday. The information services provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.49, Briefing.com reports. The business had revenue of $155.60 million during the quarter, compared to analyst estimates of $152.78 million. Wix.Com had a negative return on equity of 104.11% and a negative net margin of 9.07%. The firm’s revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. Wix.Com updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of WIX stock opened at $91.31 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 2.76. Wix.Com has a twelve month low of $50.90 and a twelve month high of $121.45. The company has a market capitalization of $4.15 billion, a P/E ratio of -91.31 and a beta of 1.82.
Several equities research analysts have recently issued reports on WIX shares. Zacks Investment Research upgraded Wix.Com from a “hold” rating to a “buy” rating and set a $109.00 price target for the company in a report on Tuesday, July 31st. BidaskClub lowered Wix.Com from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. SunTrust Banks lifted their price target on Wix.Com to $120.00 and gave the company a “buy” rating in a report on Thursday, July 26th. ValuEngine lowered Wix.Com from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $110.00 price target on shares of Wix.Com in a report on Thursday, July 26th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $105.38.
Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.
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