Earnings To Watch: Wix (WIX) Reports Q1 Results Tomorrow – Yahoo Finance UK

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Website building platform Wix (NASDAQ:WIX) will be reporting results this Wednesday before market hours. Here’s what investors should know.
Wix met analysts’ revenue expectations last quarter, reporting revenues of $524.3 million, up 13.9% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates but revenue 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 14.8% year on year, improving from the 12.8% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 e-commerce software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Shopify delivered year-on-year revenue growth of 34.3%, beating analysts’ expectations by 2.5%, and Commerce reported revenues up 5.4%, topping estimates by 4.6%. Shopify traded down 17.3% following the results while Commerce was up 7.1%.
Read our full analysis of Shopify’s results here and Commerce’s results here.
There has been positive sentiment among investors in the e-commerce software segment, with share prices up 17.4% on average over the last month. Wix is up 21.8% during the same time and is heading into earnings with an average analyst price target of $117.35 (compared to the current share price of $79.07).
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