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Wix.com stock soars to 52-week high, reaching $178.74

Published 18-10-2024, 12:46 am
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WIX
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In a remarkable display of resilience and growth, Wix (NASDAQ:WIX).com Ltd. stock has soared to a 52-week high, reaching a price level of $178.74. This milestone underscores the company's significant recovery and expansion over the past year, as reflected in the impressive 1-year change data, which shows an increase of 110.49%. Investors and market analysts alike are closely monitoring Wix.com's performance, as its recent peak suggests a strong vote of confidence from the market in the company's strategy and future prospects.

In other recent news, Wix.com has shown substantial growth in its earnings and revenue. The company's Q2 bookings experienced a year-over-year increase of 15%, totaling $458 million. The revenue also saw a 12% year-over-year growth, ending above guidance at $436 million. Analysts from firms such as Citi, Benchmark, and Cantor Fitzgerald have responded to these developments with upgrades, maintaining a Buy rating for the company. However, Piper Sandler downgraded Wix.com to Neutral due to valuation concerns, and KeyBanc maintained a Sector Weight rating. Wix.com also completed a $225 million share buyback program, indicating its confidence in long-term growth prospects. Furthermore, the company unveiled an AI theme assistant to simplify website design, providing users with personalized guidance and real-time suggestions. These recent developments highlight Wix.com's commitment to growth and innovation.

InvestingPro Insights

Wix.com's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's stock is currently trading near its 52-week high, with a price that is 99.05% of its peak value. This impressive run is further supported by a staggering 100.55% total return over the past year, reinforcing the article's mention of the 110.49% 1-year change.

InvestingPro data reveals that Wix.com has a market capitalization of $9.94 billion and has demonstrated strong revenue growth, with a 12.85% increase over the last twelve months as of Q2 2024, reaching $1.65 billion. The company's profitability is also noteworthy, with a gross profit margin of 67.68% for the same period.

Two relevant InvestingPro Tips highlight that Wix.com's management has been aggressively buying back shares, and analysts predict the company will be profitable this year. These factors may contribute to investor confidence and the stock's recent performance.

For readers interested in a deeper analysis, InvestingPro offers 11 additional tips that could provide further insights into Wix.com's financial health and market position.

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

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