Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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In the last four quarters, the company's earnings provided positive surprises of 3.20 percent to 25.0 percent.
Catalysts
As a result of establishing a name for itself, the brokerage believes the company could add more subscribers, apart from conversion.
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The analyst listed four positive factors to support his investment thesis:
- The recent products ability to strengthen its position as a one-stop solution for every enterprise. The advantage is its artificial intelligence makes it easier for automated design capabilities.
- Growing number of conversion from free-based to premium subscribers.
- Growth prospects from additional subscriber resulting in higher ROI.
- Global expansion.
The analyst sees Wix.com expanding globally, while rivals remain focused on America. Wix is getting nearly 50 percent of its revenue from outside North America.
The brokerage elaborated, "We believe that the company can defend its narrow moat for the foreseeable future and continue to deliver sustainable, high-growth, predictable revenue (majority of subscribers on annual contracts and ROI growing from increased signups). The company is approaching consistent profitability and FCF generation."
Headwinds?
On the flip side, some of SMB customers might close down in the event of economic recession, increased competition if rivals offer similar features and increased S&M expenditures.
In the pre-market trading on Wednesday, the stock traded down by $0.52, or 1.21 percent, to $42.74.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.