WIX is gaining from strength across its Creative Subscriptions and Business Solutions segments. A solid cash flow statement augurs well.
Wix's stock price continued to fire on all cylinders in 2024, as its revenue growth continued and it moved to achieve its rule of 40 valuation metric ahead of schedule. It also soared to a yearly high of $230 as investors returned to software companies that provide reliable recurring revenue.
Recently, Zacks.com users have been paying close attention to Wix.com (WIX). This makes it worthwhile to examine what the stock has in store.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
I'm reiterating my buy rating on Wix after the company posted excellent Q3 results, showcasing accelerating revenue and bookings growth. The company continues to see tailwinds from adding AI-assisted website building features. It's also bringing in significant new customers via partners, which now represents one-third of the company's overall revenue.
Wix introduces AI Site-Chat that integrates with a website's internal systems, delivering "up-to-the-minute information" and personalized recommendations.
Zacks.com users have recently been watching Wix.com (WIX) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
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WIX benefits from increasing adoption of its product portfolio, especially various AI products and WIX Studio.
Wix.com (WIX) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Wix.com Ltd WIX reported better-than-expected fiscal third-quarter 2024 results on Wednesday.
Wix's stock has surged 60% YTD, driven by strong ARPS growth and operating leverage. I am assigning a new price target of $254, indicating a 21% upside. The company's Q3 FY24 revenue and earnings grew 13% and 52% YoY respectively, as user monetization remained robust with ongoing AI innovations in Wix Studio and the user onboarding process. Specifically, Wix's Partners business saw 30% YoY growth, fueled by higher-priced Studio subscriptions and deeper adoption of Business Solutions, particularly Wix Payments.