The latest trading session saw Wix.com (WIX) ending at $172.47, denoting a -0.53% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily loss of 0.18%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq added 0.27%.

The cloud-based web development company's shares have seen an increase of 7.94% over the last month, surpassing the Computer and Technology sector's gain of 6.6% and the S&P 500's gain of 4.46%.

The investment community will be paying close attention to the earnings performance of Wix.com in its upcoming release. The company is forecasted to report an EPS of $1.44, showcasing a 30.91% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $443.27 million, indicating a 12.55% increase compared to the same quarter of the previous year.

WIX's full-year Zacks Consensus Estimates are calling for earnings of $5.85 per share and revenue of $1.75 billion. These results would represent year-over-year changes of +33.26% and +12.37%, respectively.

Any recent changes to analyst estimates for Wix.com should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Wix.com presently features a Zacks Rank of #3 (Hold).

Digging into valuation, Wix.com currently has a Forward P/E ratio of 29.65. This represents a premium compared to its industry's average Forward P/E of 29.61.

We can also see that WIX currently has a PEG ratio of 1.32. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Computers - IT Services industry held an average PEG ratio of 2.85.

The Computers - IT Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 53, which puts it in the top 22% of all 250+ industries.