Wix.com (WIX) shares surged 5.3% due to strong volume and positive outlook

From Nasdaq: 2025-01-15 03:11:00

Wix.com (WIX) shares surged 5.3% to $236.36, driven by strong volume and a 3.6% gain in the past four weeks. The company’s focus on AI offerings and Studio solutions led to a 75% increase in new partner bookings in Q3 2024.

With a revised outlook, Wix anticipates a 13% revenue growth year-over-year, reaching $1,757-$1,764 million. The continued evolution of AI and Studio offerings is expected to drive revenue growth, with bookings projected to accelerate in the second half of 2024.

Analysts expect Wix.com to post earnings of $1.61 per share, a 32% increase year-over-year, with revenues of $461.34 million, up 14.3% from the previous year. The stock currently carries a Zacks Rank #3 (Hold).

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Read more at Nasdaq: Wix.com (WIX) Moves 5.3% Higher: Will This Strength Last?