Wix.com anticipates 1100% EPS growth in upcoming earnings disclosure

Cloud-based web development company Wix.com (NASDAQ:) closed Tuesday’s trading session at $79.12, marking a 1.13% increase, despite underperforming the S&P 500’s daily gain of 1.2%, Dow’s rise of 1.58%, and Nasdaq’s increase of 1.16%. This comes after the company’s stock experienced a significant 14.77% drop over the past month, falling short of both the Computer and Technology sector and the S&P 500.

Investors are now keenly awaiting Wix.com’s upcoming earnings disclosure on November 9, 2023. The company is anticipated to report an earnings per share (EPS) of $0.72, reflecting a remarkable 1100% growth from the same quarter last year. The projected quarterly revenue stands at $389.51 million, marking a 12.64% increase year-over-year.

For the full year, Wix.com’s earnings are forecasted at $3.36 per share with a revenue prediction of $1.55 billion, signifying changes of +2076.47% and +11.86%, respectively, compared to last year.

InvestingPro Insights

Our real-time data from InvestingPro provides additional context to the recent performance of Wix.com (NASDAQ:WIX). Over the past week, the stock has taken a significant hit, aligning with the 14.77% drop noted in the article over the past month. Despite this, InvestingPro Tips highlight that Wix’s management has been aggressively buying back shares, signaling their confidence in the company’s future.

Moreover, Wix has been noted for its high shareholder yield, further indicating its potential as an investment prospect. However, it should be noted that Wix has operated with a moderate level of debt and has not been profitable over the last twelve months. That being said, analysts are predicting a profitable year ahead for the company.

For more in-depth insights, InvestingPro offers over six additional tips related to Wix.com, all aimed at aiding investors in making informed decisions.

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