Shares of website building platform Wix.com (WIX 14.16%) jumped on Wednesday after the Israeli company reported financial results for the third quarter of 2024. As of 10:50 a.m. ET, Wix stock was up nearly 14% and topped $200 per share for the first time since late 2021.Wix had a beat-and-raise quarterIn Q3, Wix generated more revenue than analysts had expected as well as higher profits. It turns out that the company's generative artificial intelligence (AI) is helping onboard more customers to create websi ...

For the quarter ended September 2024, Wix.com (WIX) reported revenue of $444.67 million, up 12.9% over the same period last year. EPS came in at $1.50, compared to $1.10 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $443.64 million, representing a surprise of +0.23%. The company delivered an EPS surprise of +4.17%, with the consensus EPS estimate being $1.44.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...

Core Viewpoint - Wix.com reported quarterly earnings of $1.50 per share, exceeding the Zacks Consensus Estimate of $1.44 per share, and showing an increase from $1.10 per share a year ago, indicating a strong performance in the cloud-based web development sector [1][2]. Financial Performance - The company achieved revenues of $444.67 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.23% and up from $393.84 million year-over-year [2]. - Over the last four quarters, Wix.com has consistently exceeded consensus EPS estimates and revenue expectations [2]. Stock Performance - Wix.com shares have increased approximately 49.5% since the beginning of the year, significantly outperforming the S&P 500's gain of 24.1% [4]. - The current consensus EPS estimate for the upcoming quarter is $1.52, with projected revenues of $456.64 million, and for the current fiscal year, the EPS estimate is $5.85 on revenues of $1.76 billion [8]. Industry Outlook - The Computers - IT Services industry, to which Wix.com belongs, is currently ranked in the top 19% of over 250 Zacks industries, suggesting a favorable environment for stock performance [9]. - The correlation between near-term stock movements and earnings estimate revisions is noted, indicating that investors should monitor these revisions closely [6].

Exhibit 99.1 Wix Reports Third Quarter 2024 Results Strong performance of key product initiatives drove third consecutive quarter of bookings growth acceleration – now expect to exit 2024 with y/y bookings growth of 18% NEW YORK, November 20, 2024 -- Wix.com Ltd. (Nasdaq: WIX), the leading SaaS website builder platform , today reported financial results for the third quarter of 2024. In addition, the Company provided its outlook for the fourth quarter and an updated outlook for full year 2024. Please visit ...

Core Insights - Wix.com Ltd. reported strong financial performance in Q3 2024, with total bookings of $449.8 million, reflecting a 16% year-over-year growth, driven by Studio momentum, AI benefits, and robust commerce activity [1][2] - The company expects to exit 2024 with year-over-year bookings growth of 18%, raising its full-year bookings, revenue, and free cash flow guidance [1][4][7] - Free cash flow margin expanded to approximately 29%, indicating strong operational leverage and bookings strength [1][3] Financial Performance - Total revenue for Q3 2024 reached $444.7 million, up 13% year-over-year, with Creative Subscriptions revenue at $318.8 million (up 10% y/y) and Business Solutions revenue at $125.8 million (up 22% y/y) [2][3][26] - Non-GAAP net income for Q3 2024 was $89.3 million, translating to $1.62 per basic share, while GAAP net income was $26.8 million, or $0.49 per basic share [3][21] - Creative Subscriptions Annualized Recurring Revenue (ARR) increased to $1.31 billion, up 11% year-over-year [2][26] Growth Drivers - The company highlighted the success of its Studio product, with 75% of new Partner bookings coming from Studio accounts, indicating strong adoption among agencies [2] - AI innovations, particularly the AI-powered user onboarding tool, demonstrated a 13% uplift in conversion rates for the Self Creator cohort [1][2] - Wix anticipates further growth acceleration and margin expansion in 2025, supported by ongoing product innovations and a stable operating cost structure [8][10] Updated Guidance - Wix raised its full-year bookings outlook to $1,822 - $1,832 million, reflecting 14-15% year-over-year growth, compared to previous guidance of $1,802 - $1,822 million [4] - The updated revenue outlook for the full year is now $1,757 - $1,764 million, maintaining a 13% year-over-year growth expectation [5][6] - The company expects Q4 2024 revenue to be between $457 - $464 million, representing 13-15% year-over-year growth [6]

The new offering generates dynamic and custom visual sitemaps and wireframe options, providing  more efficient ways for agencies to plan, structure, and build their websites NEW YORK – – Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally1, announced today the launch of its AI-powered visual sitemap and wireframe generator tool for Wix Studio. The new offering allows agencies and enterprises to accelerate site planning with a fully-native, AI-powered visual sitemap tool that can s ...

In its upcoming report, Wix.com (WIX) is predicted by Wall Street analysts to post quarterly earnings of $1.44 per share, reflecting an increase of 30.9% compared to the same period last year. Revenues are forecasted to be $443.27 million, representing a year-over-year increase of 12.6%.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.A ...

Wix.com Ltd (WIX) is slated to report third-quarter 2024 results on Nov. 20.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The company expects third-quarter revenues to be between $440 million and $445 million, implying 12-13% growth from the prior-year quarter's reported figure. The Zacks Consensus Estimate is pegged at $443.3 million, indicating an increase of 12.6% from a year ago.The Zacks Consensus Estimate for earnings is pegged at $1.44 per share, up 30.9% from the year-earl ...

Core Insights - The report emphasizes the importance of storytelling for agencies to showcase innovation and differentiate themselves in the digital landscape [1][2] - It explores how agencies can leverage emerging technologies like VR and AI to enhance storytelling and create immersive, personalized experiences [2][3] Company Overview - Wix.com Ltd. is recognized as the leading SaaS website builder platform globally, providing a comprehensive suite of tools for users to create and manage their digital presence [4] - The company focuses on continuous innovation, offering advanced SEO, marketing tools, and enterprise-grade performance to empower users [4] Industry Trends - The SoDA Report On series addresses pivotal issues and trends in digital marketing and creative industries, highlighting the evolving role of storytelling [6] - Agencies are encouraged to refine their strategies to adapt to the fast-changing digital environment, utilizing storytelling as a strategic asset [3][6]

Group 1: Brokerage Recommendations for Wix.com - Wix.com has an average brokerage recommendation (ABR) of 1.52, indicating a consensus between Strong Buy and Buy based on 21 brokerage firms' recommendations [2] - Out of the 21 recommendations, 14 are Strong Buy and 3 are Buy, accounting for 66.7% and 14.3% of all recommendations respectively [2] - Despite the positive ABR, caution is advised as studies show limited success of brokerage recommendations in predicting stock price increases [3][8] Group 2: Limitations of Brokerage Recommendations - Brokerage firms often exhibit a strong positive bias in their ratings due to vested interests, leading to a disproportionate number of favorable ratings compared to negative ones [4][8] - The interests of brokerage firms may not align with those of retail investors, providing little insight into future stock price movements [5] - Analysts' recommendations are often overly optimistic, which can mislead investors [8] Group 3: Zacks Rank as an Alternative Indicator - Zacks Rank categorizes stocks into five groups based on earnings estimate revisions, which have shown a strong correlation with near-term stock price movements [6][9] - The Zacks Rank is updated more frequently than the ABR, making it a timely tool for predicting future stock prices [10] - Wix.com currently holds a Zacks Rank 3 (Hold), with an unchanged consensus earnings estimate of $5.85 for the current year [11][12]