Wix (WIX) Reports Earnings Tomorrow: What To Expect
Website building platform Wix (NASDAQ:WIX) will be announcing earnings results this Tuesday morning. Here’s what to expect.
Wix met analysts’ revenue expectations last quarter, reporting revenues of $541.2 million, up 14.3% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and billings in line with analysts’ estimates.
Is Wix a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wix’s revenue to grow 12.7% year on year, in line with the 12.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Wix has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Wix’s peers in the sales and marketing software segment, only GoDaddy has reported results so far. It met analysts’ revenue estimates, delivering year-on-year sales growth of 6.6%. The stock was down 16.7% on the results.
Read our full analysis of GoDaddy’s earnings results here.There has been positive sentiment among investors in the sales and marketing software segment, with share prices up 2.7% on average over the last month. Wix is up 9.5% during the same time and is heading into earnings with an average analyst price target of $72.20 (compared to the current share price of $55.10).
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