Investing.com - Financial Markets Worldwide

Wix.com stock soars to 52-week high, touches $246.85

Published 28/01/2025, 22:02
© Reuters.
WIX
0.08%

Wix.com Ltd. (NASDAQ: NASDAQ:WIX), a leading global web development platform with a market capitalization of $13.74 billion, has reached a new 52-week high, with its stock price soaring to $246.85. According to InvestingPro analysis, the company is currently trading above its calculated Fair Value. This milestone reflects a significant surge in investor confidence, as evidenced by the impressive 82.27% one-year return and robust revenue growth of 12.63%. The company’s strong performance and innovative product enhancements have contributed to this upward trajectory, with 11 analysts recently revising their earnings estimates upward. InvestingPro subscribers can access 16 additional valuable insights about WIX’s growth prospects and financial health, which currently ranks as GOOD based on comprehensive analysis.

In other recent news, Wix.com, a leading cloud-based web development platform, has completed its $200 million share repurchase program. This initiative was authorized by the company’s Board of Directors in July 2024 and involved the repurchase of 868,026 outstanding ordinary shares. As part of recent developments, Wix.com has been the subject of several analyst upgrades and positive revisions in price targets. Morgan Stanley (NYSE:MS) upgraded Wix.com’s stock from Equalweight to Overweight, citing growth in the Self-Creators segment and advancements in artificial intelligence. Benchmark, Piper Sandler, and Needham also adjusted their price targets for Wix.com upwards, reflecting the company’s robust third-quarter performance and positive growth outlook. Wix.com reported an adjusted earnings per share of $1.50 and revenue of $444.7 million, a 13% year-over-year increase, largely driven by a 16% surge in bookings growth. The company’s management team has raised its full-year 2024 revenue guidance to a range of $1.757-$1.764 billion, up from the earlier forecast of $1.747-$1.761 billion.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.