Wix.com Analysts Cut Their Forecasts After Q3 Earnings

Benzinga11-20

Wix.Com Ltd (NASDAQ:WIX) reported better-than-expected earnings for the third quarter on Wednesday.

The company posted quarterly earnings of $1.68 per share which beat the analyst consensus estimate of $1.47 per share. The company reported quarterly sales of $505.194 million which beat the analyst consensus estimate of $502.682 million.

Wix.com raised its FY2025 sales guidance from $1.975 billion-$2.000 billion to $1.990 billion-$2.000 billion.

“Our goal has always been to give people the power to access advanced technology without the barriers of complexity,” said Avishai Abrahami, Co-founder and CEO of Wix. “With Base44, we’re extending this mission by bringing the next generation of AI and natural-language development to applications. This is the next phase in the evolution of our commitment to democratizing technology, and I’m excited for what’s ahead.”

Wix.com shares rose 1.2% to $102.90 in pre-market trading.

These analysts made changes to their price targets on Wix.com following earnings announcement.

  • Needham analyst Bernie McTernan maintained Wix.com with a Buy and lowered the price target from $200 to $140.
  • Citizens analyst Andrew Boone maintained the stock with a Market Outperform and cut the price target from $210 to $185.
  • Benchmark analyst Mark Zgutowicz maintained Wix.com with a Buy and lowered the price target from $230 to $185.

Considering buying WIX stock? Here’s what analysts think:

Read This Next:

  • Walmart, Nvidia And 3 Stocks To Watch Heading Into Thursday

Photo via Shutterstock

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment