Wix.com (WIX) Soars 5.8%: Is Further Upside Left in the Stock?

Company Overview - Wix.com (WIX) shares increased by 5.8% to close at $93.04, following a notable trading volume, despite a 15% loss over the past four weeks [1] - The company announced a new buyback authorization of up to $2 billion over the next two years, highlighting its strong cash flow generation and commitment to shareholder returns [2] Earnings Expectations - Wix is expected to report quarterly earnings of $1.36 per share, reflecting a year-over-year decline of 29.5%, while revenues are projected to be $528.03 million, an increase of 14.7% from the previous year [3] - The consensus EPS estimate for Wix has been revised 0.6% higher in the last 30 days, indicating a positive trend that may lead to price appreciation [4] Industry Context - Wix.com operates within the Zacks Computers - IT Services industry, where another company, Leidos (LDOS), has seen a 0.3% increase in its stock price, closing at $187.77, with a 2.1% return over the past month [4] - Leidos has a consensus EPS estimate of $2.57, which is a 2% increase from the previous month and an 8.4% increase year-over-year, also holding a Zacks Rank of 3 (Hold) [5]