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Wix.com Ltd (NASDAQ:WIX) Maintains Strong Position in Website Development Industry
Feb 20, 2025 9:05 PM - Andrew Wynn(Last modified: Feb 21, 2025 3:36 PM)
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- Wix.com Ltd (NASDAQ:WIX) reported a 14% increase in revenue, reaching $460 million.
- The company's adjusted EPS of $1.93 exceeded analyst expectations, showcasing strong profitability.
- Analysts remain bullish, adjusting their ratings and price targets upwards, reflecting confidence in Wix's future growth prospects.
Wix.com Ltd (NASDAQ:WIX) is a prominent player in the website development industry, offering a platform that allows users to create websites without coding knowledge. The company competes with other website builders like Squarespace and Weebly. On February 20, 2025, Cantor Fitzgerald maintained its "Overweight" rating for WIX, with a "hold" action, when the stock price was $203.8.
Wix's recent financial performance has caught the attention of Wall Street analysts. The company reported a 14% increase in revenue, reaching $460 million, slightly below the analyst estimate of $461.75 million. However, its adjusted earnings per share (EPS) of $1.93 exceeded the consensus estimate of $1.59, showcasing strong profitability.
Following these results, analysts have adjusted their ratings and price targets for Wix. Cantor Fitzgerald's Deepak Mathivanan maintained an Overweight rating and increased the price target from $260 to $270. Similarly, Benchmark's Mark Zgutowicz and Needham's Bernie McTernan raised their price targets, reflecting confidence in the company's future prospects.
The positive sentiment is largely driven by the adoption of Wix's Studio, which has shown significant booking growth. Despite facing foreign exchange challenges, the company's new AI products and Studio adoption have sparked bullish calls from analysts, indicating potential for future growth.
Currently, WIX's stock price is $203.65, reflecting a decrease of 6.15% or $13.35. The stock has traded between $202.49 and $215 today, with a market capitalization of approximately $11.33 billion. The trading volume for WIX on the NASDAQ exchange is 1,253,320 shares, highlighting active investor interest.
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