Wix.Com Ltd (WIX) Releases Earnings Results, Beats Expectations By $0.01 EPS

Wix.Com Ltd (WIX) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.30 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.31. The company posted revenue of $61.60 million in the period, compared to analysts expectations of $60.71 million. The company’s revenue was up 38.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.30 EPS.

Many Wall Street Analysts have commented on Wix.Com Ltd. Shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Outperform” and Lowered the Price Target to $ 35 from a previous price target of $36 .

Wix.Com Ltd opened for trading at $24.7 and hit $25.04 on the upside on Monday, eventually ending the session at $24.86, with a gain of 0.57% or 0.14 points. The heightened volatility saw the trading volume jump to 2,85,219 shares. Company has a market cap of $1,001 M.

Wix.com Ltd. is a Web development platform. The Company develops and markets an Internet service that allows users to create Web content. The Company offers its Web development design and management solutions and apps through an online platform for businesses organizations professionals and individuals. Its Web development technology is built based on HTML5 and offers HTML5 compatible capabilities Web design and layout tools domain hosting and other marketing and work flow management applications and services. By registering with the Company’s Website its users receive access to the Wix Editor an online editor. The Company’s cloud-based platform is accessed through a hosted environment allowing its users to update their site and manage their business or organization at any time.

Wix.Com Ltd

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