Why Wix.com Stock Plummeted by 31% This Week
The combination of disappointing first-quarter results and a clutch of bearish analyst updates put some real hurt on Wix.com (NASDAQ: WIX) in the past few days. Over the course of the trading week, the DIY web design facilitator's shares fell by 31%, according to data compiled by S&P Global Market Intelligence.
Wix's earnings report was made public early on Wednesday morning. The company's revenue for the quarter was $541 million, while total bookings were $585 million. Those figures were up a respective 14% and 15%, respectively, year over year. However, analysts were collectively modeling just over $544 million on the top line.
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Source Fool.com
