Wix.com (NASDAQ:WIX) Stock, Quote.Headers.trade-ideas

Wix.com

Wix.com is a software-as-a-service content management system platform that allows users to create, customize, and manage websites for themselves, or for clients. Wix is best known for its Wix Editor service for self-creators, but in recent years has invested heavily and introduced its Wix Studio offering for partners, who are agencies and developers. Wix also offers a range of business solutions such as payment services and marketing products.

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WCLD

Designed to provide broad exposure to the Technology - Cloud Computing segment of the equity market, the WisdomTree Cloud Computing ETF (NASDAQ: WCLD) is a passively managed exchange traded fund launched on 09/06/2019.

Should You Invest in the WisdomTree Cloud Computing ETF?

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Wix.com Ltd. (NASDAQ: WIX) has launched its latest artificial intelligence Theme Assistant that provides users with personalized recommendations and real-time advice, allowing them to easily customize their website&#39;s theme.

Will WIX&#39;s Efforts to Expand AI Product Line-Up Boost its Stock?

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MANH

Wix.com&#39;s (NASDAQ: WIX) shares have been performing well on the trading front, with a gain of 32.5% year to date compared with the S&amp;P 500 composite and sub-industry&#39;s growth of 16.2% and 1.8%, respectively.

WIX Stock Soars 33% Year to Date: Will the Rally Continue?

Wix.com Ltd

Designed to provide broad exposure to the Technology - Cloud Computing segment of the equity market, the WisdomTree Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wcld#NASDAQ">WCLD</a>) is a passively managed exchange traded fund launched on 09/06/2019.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Cloud Computing is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 8, placing it in top 50%.
<h2>Index Details</h2>
The fund is sponsored by Wisdomtree. It has amassed assets over $399.90 million, making it one of the average sized ETFs attempting to match the performance of the Technology - Cloud Computing segment of the equity market. WCLD seeks to match the performance of the BVP NASDAQ EMERGING CLOUD INDEX before fees and expenses.
The BVP Nasdaq Emerging Cloud Index is an equally weighted Index, designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers.
<h2>Costs</h2>
Investors should also pay attention to an ETF&#39;s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.45%, making it on par with most peer products in the space.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Information Technology sector--about 85.10% of the portfolio. Financials and Industrials round out the top three.
Looking at individual holdings, Q2 Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qtwo#NYSE">QTWO</a>) accounts for about 2.82% of total assets, followed by Squarespace Inc - Class A (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sqsp#NYSE">SQSP</a>) and Wix.com Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>).
The top 10 holdings account for about 21.75% of total assets under management.
<h2>Performance and Risk</h2>
So far this year, WCLD has lost about -11.13%, and is down about -0.06% in the last one year (as of 09/16/2024). During this past 52-week period, the fund has traded between $26.89 and $37.05.
The ETF has a beta of 1.11 and standard deviation of 39.89% for the trailing three-year period. With about 68 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
WisdomTree Cloud Computing ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, WCLD is an outstanding option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.
Global X Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clou#NASDAQ">CLOU</a>) tracks INDXX GLOBAL CLOUD COMPUTING INDEX and the First Trust Cloud Computing ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/skyy#NASDAQ">SKYY</a>) tracks ISE Cloud Computing Index. Global X Cloud Computing ETF has $353.11 million in assets, First Trust Cloud Computing ETF has $2.90 billion. CLOU has an expense ratio of 0.68% and SKYY charges 0.60%.
<a href="https://www.zacks.com/stock/news/2336237/should-you-invest-in-the-wisdomtree-cloud-computing-etf-wcld?cid=CS-BENZ-FT-sector_etf-2336237">To read this article on Zacks.com click here.</a>

Wix.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>) has launched its latest artificial intelligence Theme Assistant that provides users with personalized recommendations and real-time advice, allowing them to easily customize their website&#39;s theme. This tool is part of a broader suite of innovations from Wix aimed at supporting users throughout every phase of their online journey, from initial ideas to final execution.
As website designing becomes more complicated day by day, users frequently encounter difficulties aligning their choices with their vision. The AI Theme Assistant addresses this by offering conversational guidance throughout the design process, assisting with color palettes, fonts and themes, and even extracting colors from logos, added WIX.
AI Theme Assistant is integrated directly into the Wix Editor and it provides real-time suggestions and directs users to relevant areas in the Wix dashboard. By recommending features and advising on theme elements, the assistant simplifies design decisions, giving users control while enhancing their site&#39;s aesthetic.
Wix highlighted that integrating AI into web design adds significant value for its users. The theme assistant helps users achieve a cohesive and unified look for their websites, ensuring a consistent appearance throughout.
<h2>WIX to Gain From Product Line-Up Expansion</h2>
Wix&#39;s performance is being cushioned by higher adoption of the product portfolio, especially various AI products. WIX is also embedding AI assistants across its platform and has released 17 AI business assistants so far.
It continues to add new products to gain on the AI boom. In July 2024, Wix unveiled a new suite of AI-powered tools aimed at streamlining content creation. These tools are designed to suggest relevant blog topics, generate content and create images tailored to the target audience. This new feature allows users to quickly transform ideas into almost-ready articles, cutting down on the time and effort needed to produce engaging content.
In June 2024, the company launched advanced AI creation capabilities for its mobile app builder. The initiative is set to empower users to effortlessly craft professional and fully customizable applications. In the same month, the company also extended the availability of its AI Website Builder in different languages. Apart from English, AI Website Builder is now available to global users in French, German, Portuguese, Spanish, Italian, Japanese, Turkish and Korean languages. The initiative aids users in building websites in their preferred language.
Additionally, it launched the AI Portfolio Creator, a groundbreaking tool that leverages the power of AI to aid users in crafting and showcasing an online professional portfolio in May 2024. The AI Portfolio Creator effectively streamlines the portfolio creation experience by allowing users to smoothly upload and organize large-scale image collections with just a few clicks.
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<h3>Wix.com Ltd. Price and Consensus</h3>
<img alt="Wix.com Ltd. Price and Consensus" src="https://staticx-tuner.zacks.com/images/charts/06/1726232794.png" style="height:265px; width:585px" title="" />
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
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WIX is focusing on generative AI as it represents a significant business growth driver. In the second quarter of 2024, bookings revenues came at $458.4 million. This 15% year-over-year improvement was driven by solid uptake of WIX Studio, AI product suite and expanding commerce platform in this quarter. The expansion of the AI product portfolio is expected to drive the top line for WIX and further boost the stock.
<h2>WIX&#39;s Zacks Rank &amp; Stock Price Performance</h2>
WIX currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 64.1% in the past year compared with the sub-industry&#39;s growth of 20.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ae/77706.jpg?v=727942298" />
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader technology space are Unisys Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uis#NYSE">UIS</a>), ANSYS, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/anss#NASDAQ">ANSS</a>) and Adobe Inc.&nbsp;UIS presently sports a Zacks Rank #1 (Strong Buy), whereas ANSS &amp; ADBE carry a Zacks Rank #2 (Buy).
Unisys Corporation delivered an earnings surprise of 87.7%, on average, in the trailing four quarters. In the last reported quarter, UIS pulled off an earnings surprise of 143.2%. It has a long-term earnings growth expectation of 15%.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.
<a href="https://www.zacks.com/stock/news/2335943/will-wix-s-efforts-to-expand-ai-product-line-up-boost-its-stock?cid=CS-BENZ-FT-analyst_blog|company_news_tech_sector-2335943">To read this article on Zacks.com click here.</a>

Will WIX's Efforts to Expand AI Product Line-Up Boost its Stock?

Cantor Fitzgerald analyst Deepak Mathivanan initiates coverage on Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Overweight rating and announces Price Target of $200.

Price Target

Initiation

Cantor Fitzgerald Initiates Coverage On Wix.com with Overweight Rating, Announces Price Target of $200

Wix.com&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>) shares have been performing well on the trading front, with a gain of 32.5% year to date compared with the S&amp;P 500 composite and sub-industry&#39;s growth of 16.2% and 1.8%, respectively.
The stock has gained 4.2% since announcing solid second-quarter 2024 results on Aug 7. The stock is still trading 8.7% below its 52-week high of $178.65, which makes it relatively affordable for investors.
Headquartered in Tel Aviv, Israel and founded in 2006, WIX is a cloud-based web development platform. It offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow the companies&#39; online presence.
The company&#39;s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters with the average surprise being 29.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/36/74490.jpg?v=1273220810" />
Image Source: Zacks Investment Research
<h3>WIX Studio &amp; AI Strategy Propelling Growth</h3>
Increasing adoption of the product portfolio, especially various AI products and WIX Studio, has been driving WIX&#39;s performance. The addition of new features and enhancements to WIX Studio is driving its uptake. Management highlighted that the number of Studio accounts and rate of new Partners joining the Wix platform through Studio continues to better expectations.
The addition of new AI-powered offerings to its product portfolio is another tailwind. WIX is also focusing on embedding AI assistants across its platform and has released 17 AI business assistants so far.
In June 2024, Wix launched advanced AI creation capabilities for its mobile app builder. The initiative is set to empower users to effortlessly craft professional and fully customizable applications. By leveraging AI technology, it revolutionizes the way business apps for iOS and Android can be designed and altered.
The company also expanded the availability of its AI Website Builder in different languages. Besides English, AI Website Builder is now available to global users in French, German, Portuguese, Spanish, Italian, Japanese, Turkish and Korean. This initiative aids users in building websites in their preferred language.
WIX&#39;s second-quarter total revenues increased 12% year over year to $435.7 million and beat the Zacks Consensus Estimate of $433.6 million. Bookings of $458.4 million improved 15% year over year. Creative Subscriptions&#39; bookings increased 12% year over year to $329 million. Business Solutions&#39; bookings rose 24% to $129.4 million.
Partners revenues in the second quarter were $148.4 million, or 34% of total revenues, up 29% year over year. The increase was driven by market share gains resulting from the onboarding of new agencies and freelancers.
<h3>Outlook Revised</h3>
Continued strong momentum in the first half of 2024 led WIX to upgrade the outlook for bookings, revenues and free cash flow for the year.
Total bookings are expected between $1,802 million and $1,822 million, compared with a previous range of $1,796-$1,826 million.
Total revenues are now expected to be in the range of $1,747-$1,761 million (previous projection:&nbsp; $1,738 million to $1,761 million).
Free cash flow, excluding headquarters costs, is expected between $460 million and $470 million, or 26-27% of revenues in 2024. Earlier, free cash flow was expected in the range of $445-$455 million, or 26% of revenues.
<h3>Estimates Moving North</h3>
The estimates have also moved northward in the past 60 days. The Zacks Consensus Estimate for 2024 and 2025 earnings per share has increased 7.3% and 2.4%, respectively, reflecting analysts&#39; optimism.
The estimated figures for 2024 and 2025 EPS, $5.86 and $6.93, indicate a rise of 33.5% and 18.3%, respectively, from the prior-year actuals. The long-term earnings growth rate is 22.4%.
The Zacks Consensus Estimate for WIX&#39;s 2024 and 2025 revenues is pegged at $1.75 billion and $1.99 billion, respectively, which indicates growth of 12.4% and 13.2% from the year-ago levels.
<h3>Headwinds Persist</h3>
However, unfavorable foreign currency movement and weak global macroeconomic conditions are headwinds.
Increasing investments in product development, infrastructure and platform, along with stiff competition in the e-commerce marketplace, remain concerns for this Zacks Rank #3 (Hold) stock.
<h3>Stocks to Consider</h3>
Some better-ranked stocks worth consideration in the broader technology space are Badger Meter (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmi#NYSE">BMI</a>), Manhattan Associates (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/manh#NASDAQ">MANH</a>) and ANSYS (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/anss#NASDAQ">ANSS</a>). Badger Meter and Manhattan Associates sport a Zacks Rank #1 (Strong Buy) each, while ANSYS carries a Zacks Rank #2 (Buy), at present.
The Zacks Consensus Estimate for Badger Meter&#39;s 2024 EPS is pegged at $4.06, up 4.4% in the past 30 days. BMI&#39;s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.9%. The long-term earnings growth rate is 17.9%. Its shares have risen 26.1% in the past year.
The Zacks Consensus Estimate for ANSS&#39; 2024 earnings is pegged at $9.72, up 3.7% in the past 30 days. ANSS&#39; earnings beat the Zacks Consensus Estimate in three of the last four quarters while missing once, with the average surprise being 4.8%. Its shares have risen 12.1% in the past year.
The Zacks Consensus Estimate for MANH&#39;s 2024 EPS is pegged at $4.26. MANH&#39;s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average surprise being 26.6%. The stock has surged 37.7% in the past year.
<a href="https://www.zacks.com/stock/news/2323236/wix-stock-soars-33-year-to-date-will-the-rally-continue?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2323236">To read this article on Zacks.com click here.</a>

Piper Sandler analyst Clarke Jeffries maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Neutral and maintains $184 price target.

Piper Sandler Maintains Neutral on Wix.com, Maintains $184 Price Target

Barclays analyst Trevor Young maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Overweight and raises the price target from $184 to $186.

Barclays Maintains Overweight on Wix.com, Raises Price Target to $186

Benchmark analyst Mark Zgutowicz maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and raises the price target from $210 to $225.

Benchmark Maintains Buy on Wix.com, Raises Price Target to $225

UBS analyst Chris Zhang maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and raises the price target from $200 to $205.

UBS Maintains Buy on Wix.com, Raises Price Target to $205

Needham analyst Bernie McTernan maintains Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and raises the price target from $190 to $200.

Needham Maintains Buy on Wix.com, Raises Price Target to $200

WIIM

Wix.com shares are trading higher after the company reported better-than-expected Q2 financial results and raised its FY24 guidance.

Wix.com Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) reported its&nbsp;fiscal second-quarter 2024 results.&nbsp;Revenue grew 12%&nbsp;year over year&nbsp;to $435.7 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/n40210405/wix-reports-second-quarter-2024-results" rel="noreferrer noopener">analyst consensus estimate of $433.8 million</a>.&nbsp;Adjusted EPS of $1.67 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $1.35</a>.
Partners revenue&nbsp;in the&nbsp;quarter&nbsp;was&nbsp;$148.4 million, up&nbsp;29%&nbsp;Y/Y.
Segments: Creative Subscription revenue increased 9%&nbsp;Y/Y&nbsp;to $312.1 million.&nbsp;The Creative Subscriptions bookings&nbsp;climbed 12%&nbsp;Y/Y&nbsp;to $329.0 million.&nbsp;Creative Subscriptions ARR was $1.28 billion, up 10%&nbsp;Y/Y.
Business&nbsp;Solutions'&nbsp;revenue rose 20%&nbsp;year over year&nbsp;to $123.6 million, and bookings jumped 24%&nbsp;year over year&nbsp;to $129.4 million.&nbsp;
The adjusted gross margin remained firm at 68%. Wix.com generated $120.0 million in operating cash flow and held $788.4 million in cash and cash equivalents&nbsp;as of June-end.
Avishai Abrahami, Wix Co-founder and CEO: "We made incredible strides towards our key growth pillars and drove significant bookings growth acceleration this quarter.&nbsp; First, Wix Studio continued to outperform expectations, as Studio subscription purchases accelerated, retention remained strong and the number of Studio accounts purchasing multiple subscriptions ramped. We also continued to execute against our AI strategy with the release of 17 AI business assistants so far this year."
Outlook: Wix.com expects fiscal 2024 revenue of $1.747&nbsp;billion—$1.761 billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38917866/website-creator-wix-gains-after-q1-print-whats-going-on" rel="noreferrer noopener">prior</a><a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38917866/website-creator-wix-gains-after-q1-print-whats-going-on" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38917866/website-creator-wix-gains-after-q1-print-whats-going-on" rel="noreferrer noopener">$1.738 billion—$1.761 billion</a>) vs. the consensus of $1.75 billion. Wix.com projects 2024 bookings of &nbsp;$1.802 billion—$1.822 billion (prior $1.796&nbsp;billion—$1.826 billion).
The company expects to generate free cash flow, excluding headquarters costs, of $460&nbsp;million–$470 million (prior $445&nbsp;million–$455 million).
Wix.com expects third-quarter revenue of $440&nbsp;million–$445 million versus <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus $443.12 million</a>.
Price Action: WIX shares are up 4.74% at $164.50 premarket at the last check on Wednesday.
Photo via Company

Guidance

Movers

Wix's Q2 Earnings: Revenue And Profit Beat, Strong Performance in Partner And Subscription Segments

Needham analyst Bernie McTernan reiterates Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Buy and maintains $190 price target.

Reiteration

Needham Reiterates Buy on Wix.com, Maintains $190 Price Target

With U.S. stock futures trading higher this morning on Wednesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) to report quarterly earnings at $7.21 per share on revenue of $82.53 billion after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. McKesson shares gained 2.2% to $627.73 in after-hours trading.</li>
<li>Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) reported better-than-expected second-quarter earnings results and raised its 2024 outlook. Wix shares gained 3% to $161.80 in the after-hours trading session.</li>
<li>Analysts expect The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) to post quarterly earnings of $1.20 per share, with revenue of $23.11 billion. The company will release earnings before the markets open. Disney shares gained 0.5% to $90.46 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) <a href="https://www.benzinga.com/news/earnings/24/08/40203182/rivian-q2-earnings-highlights-revenue-beat-eps-miss-volkswagen-jv-to-speed-up-the-transition-away-f">reported a wider-than-expected loss</a> for its second quarter. The company reaffirmed all aspects of its previously shared guidance. Rivian previously announced full-year production guidance of 57,000 units. Rivian Automotive shares fell 7% to $13.77 in the after-hours trading session.</li>
<li>Analysts expect CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) to post quarterly earnings at $1.73 per share on revenue of $91.51 billion before the opening bell. CVS Health shares fell 2.6% to $56.85 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40194186/top-4-materials-stocks-which-could-rescue-your-portfolio-this-month">Top 4 Materials Stocks Which Could Rescue Your Portfolio This Month</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

RIVN

Disney, CVS Health And 3 Stocks To Watch Heading Into Wednesday

Financial&nbsp;Outlook
Our&nbsp;guidance&nbsp;for the second half of the year reflects the momentum built up in the first six months, particularly from the strong traction of our key product initiatives and solid business fundamentals.
We are updating our full year bookings&nbsp;outlook&nbsp;to&nbsp;$1,802&nbsp;-&nbsp;$1,822&nbsp;million, or&nbsp;13-14%&nbsp;y/y growth, compared to previous&nbsp;guidance&nbsp;of&nbsp;$1,796&nbsp;-&nbsp;$1,826&nbsp;million, or&nbsp;12-14%&nbsp;y/y growth.&nbsp;This&nbsp;outlook&nbsp;reflects the continued expectation that y/y bookings growth will accelerate to&nbsp;16%&nbsp;in 2H at the high end of our&nbsp;guidance&nbsp;range, as a result of accelerating growth across both Self Creators and Partners. Acceleration is expected to be driven by continued Wix Studio outperformance, benefits from our AI products and our expanded commerce platform, as well as strong user uptake of the price increase implemented earlier this year.
Bookings acceleration in 2024 is expected to translate into y/y revenue growth acceleration in 2025.
We are also updating our full year revenue&nbsp;outlook&nbsp;to&nbsp;$1,747&nbsp;-&nbsp;$1,761&nbsp;million, or&nbsp;12-13%&nbsp;y/y, compared to&nbsp;$1,738&nbsp;-&nbsp;$1,761&nbsp;million, or&nbsp;11-13%&nbsp;y/y growth, previously.
We expect total revenue growth in&nbsp;Q3&#39;24 of&nbsp;$440&nbsp;-&nbsp;$445 million, or&nbsp;12-13%&nbsp;y/y growth.
For the full year 2024, we continue to expect non-GAAP total gross margin of&nbsp;68-69%&nbsp;with non-GAAP Business Solutions gross margin to exceed&nbsp;30%&nbsp;for the full year. We now expect non-GAAP operating expenses to be approximately&nbsp;50%&nbsp;of revenue for the full year, slightly improved from our previous expectation of&nbsp;50-51%&nbsp;of revenue, driven by additional operating leverage expected.
We now expect to generate free cash flow, excluding headquarters costs, of&nbsp;$460&nbsp;-&nbsp;$470 million, or&nbsp;26-27%&nbsp;of revenue, in 2024, up from&nbsp;$445&nbsp;-&nbsp;$455 million, or ~26%&nbsp;of revenue.&nbsp;This increase in free cash flow is expected to be primarily driven by continued operating leverage.
As a result of strong top-line growth and incremental margin improvements, we are now poised to achieve the Rule of 40 milestone this year, if we achieve the high end of our&nbsp;guidance&nbsp;ranges.

Wix.Com Raises Its 2024 Outlook: Now Expects Total Bookings Of $1.802B-$1.822B (Prior $1.796B-$1.826B) And Revenue Of $1.747B-$1.761B (Prior $1.738B-$1.761B) Vs. $1.754B Consensus

Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) reported quarterly earnings of $1.67 per share which beat the analyst consensus estimate of $1.35 by 23.7 percent. This is a 32.54 percent increase over earnings of $1.26 per share from the same period last year. The company reported quarterly sales of $435.746 million which beat the analyst consensus estimate of $433.772 million by 0.46 percent. This is a 11.74 percent increase over sales of $389.977 million the same period last year.

Wix.com Q2 2024 Adj. EPS $1.67 Beats $1.35 Estimate, Sales $435.746M Beat $433.772M Estimate

Wix.com Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>) is slated to report second-quarter 2024 results on Aug 7.
The company expects revenues to be between $431 million and $435 million, implying 11-12% growth from the prior-year quarter&#39;s reported figure. The Zacks Consensus Estimate is pegged at $433.6 million, indicating an increase of 11.2% from a year ago.
The Zacks Consensus Estimate for earnings is pegged at $1.32 per share, up 4.8% from the year-earlier quarter&#39;s level.
WIX&#39;s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 56.5%.
The company&#39;s shares have risen 56% compared with the&nbsp;sub-industry&#39;s growth of 12.2% in the past year.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/bd/73346.jpg?v=141460758" />
Image Source: Zacks Investment Research
<h3>Factors to Consider</h3>
Increasing adoption of the product portfolio, especially various AI products, is likely to have driven revenues in the to-be-reported quarter. Among AI products, in the last reported quarter, management highlighted that its key offering &mdash; AI Website Builder &mdash; received strong responses from Self Creators and Partners. This solution created a professional website that meets the user&#39;s requirements through a conversational AI chat experience.
Strengthening momentum in WIX Studio is another tailwind. In the last reported quarter, management noted that more than 1 million Studio accounts have been created by agencies and designers since the rollout of WIX Studio in August 2023. It also contributed to strong revenue growth from the Partners business.
Average revenues per subscription are likely to have been driven by an expansive product portfolio and strong commerce growth. Increasing revenues from B2B businesses are an added positive.
WIX expects higher bookings, favorable gross margin mix and operational efficiencies to drive free cash flow performance.&nbsp;
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<h3>Wix.com Ltd. Price and EPS Surprise</h3>
<img alt="Wix.com Ltd. Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/b3/1722861623.png" style="height:263px; width:544px" title="" />
Wix.com Ltd. price-eps-surprise | Wix.com Ltd. Quote
The Zacks Consensus Estimate for revenues from the Creative Subscriptions and Business Solutions segments is pegged at $313 million and $120 million, respectively.
However, increasing expenses, a volatile macroeconomic environment and unfavorable foreign currency fluctuations remain concerning.
</div>
<h3>Recent Key Developments</h3>
On Jun 24, 2024, Wix launched the Figma to Wix Studio plugin. By leveraging the plugin, professionals can seamlessly transfer their Figma designs to the Wix Studio platform. This will allow them to take advantage of Wix Studio&#39;s robust native business solutions, AI-powered tools and agency-level capabilities.
On Jun 10, 2024, Wix expanded the availability of its AI Website Builder in different languages. Besides English, AI Website Builder is now available to global users in French, German, Portuguese, Spanish, Italian, Japanese, Turkish and Korean languages. This initiative aids users in building websites in their preferred language.
On May 16, 2024, Wix introduced three new AI-based image enhancement and creation tools to assist users in improving, customizing and personalizing visual content for their websites. These tools include AI Image Creator, Object Eraser and AI Image Editor. The new AI-based tools complement Wix&#39;s existing suite of AI features. Customers can now leverage the Wix platform alongside the AI Website Builder to streamline the process of creating and managing their online presence.
On May 9, 2024, Wix launched the AI Portfolio Creator, a groundbreaking tool that leverages the power of AI to aid users in crafting and showcasing an online professional portfolio. The AI Portfolio Creator effectively streamlines the portfolio creation experience by allowing users to smoothly upload and organize large-scale image collections with just a few clicks.
Users first need to select the type of portfolio they want. The AI Portfolio Creator swings into action once all selections are made and images are uploaded. It then sorts and generates project options with clustered images, recommended titles and descriptions, along with personalized layout options.
<h3>What Our Model Says</h3>
Our proven model does not predict an earnings beat for WIX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. This is not the case here.
WIX currently has an Earnings ESP of 0.00% and a Zacks Rank #3.
<h3>Stocks to Consider</h3>
Here are a few stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this reporting cycle.
Hecla Mining Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hl#NYSE">HL</a>) has an Earnings ESP of +50.00% and a Zacks Rank #1 at present.
HL is scheduled to report quarterly earnings on Aug 6. The Zacks Consensus Estimate for HL&#39;s to-be-reported quarter&#39;s EPS and revenues is pegged at 1 cent and $208.8 million, respectively. Shares of HL have lost 4.3% in the past year.
Maplebear Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cart#NASDAQ">CART</a>) currently has an Earnings ESP of +9.80% and a Zacks Rank #2. CART is scheduled to report quarterly earnings on Aug 6.
The Zacks Consensus Estimate for CART&#39;s to-be-reported quarter&#39;s EPS and revenues is pegged at 13 cents and $804.9 million, respectively. Shares of CART have lost 6.3% in the past year.
Hagerty, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hgty#NYSE">HGTY</a>) has an Earnings ESP of +44.44% and a Zacks Rank #2 at present. HGTY is set to report quarterly figures on Aug 6.
The Zacks Consensus Estimate for HGTY&#39;s to-be-reported quarter&#39;s EPS and revenues is pegged at 9 cents and $312.6 million, respectively. Shares of HGTY have surged 26.5% in the past year.
<a href="https://www.zacks.com/stock/news/2316171/wix-set-to-report-q2-earnings-here-s-what-you-should-know?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2316171">To read this article on Zacks.com click here.</a>

Penny Stocks

CART

HGTY

WIX Set to Report Q2 Earnings: Here's What You Should Know

Wix becomes the first reseller of Gemini for Workspace, enhancing productivity with Generative AI solutions
NEW YORK, Aug. 5, 2024 /PRNewswire/ -- Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>), the leading SaaS website builder platform globally1, today announced it has expanded its strategic partnership with Google to offer Wix users Gemini for Workspace, which enables Wix users to leverage the most advanced generative AI solution across Google Workspace. Gemini for Workspace is designed to streamline workflows, enhance creativity, and boost efficiency.

GOOG

GOOGL

Wix And Google Expand Strategic Partnership To Offer Wix Users Gemini For Workspace, Enhancing Productivity With Generative AI Solutions

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock&#39;s price, but are they really important?
Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let&#39;s see what these Wall Street heavyweights think about Wix.com (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>).
Wix.com currently has an average brokerage recommendation of 1.68, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.68 approximates between Strong Buy and Buy.
Of the 19 recommendations that derive the current ABR, 11 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 57.9% and 15.8% of all recommendations.
Brokerage Recommendation Trends for WIX
<img alt="Broker Rating Breakdown Chart for WIX" class="chart" src="https://staticx-tuner.zacks.com/images/yesopchart/brokerage_bar/WIX_07302024.png" style="width:100%" title="" /> 
The ABR suggests buying Wix.com, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every &quot;Strong Sell&quot; recommendation, brokerage firms assign five &quot;Strong Buy&quot; recommendations.
In other words, their interests aren&#39;t always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock&#39;s price movement.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock&#39;s price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABR
Although both Zacks Rank and ABR are displayed in a range of 1-5, they are different measures altogether.
The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.
Is WIX Worth Investing In?
In terms of earnings estimate revisions for Wix.com, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $5.46.
Analysts&#39; steady views regarding the company&#39;s earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Wix.com.
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Wix.com.
<a href="https://www.zacks.com/stock/news/2311820/is-wix-com-wix-a-buy-as-wall-street-analysts-look-optimistic?cid=CS-BENZ-FT-fundamental_analysis|average_broker_rating-2311820">To read this article on Zacks.com click here.</a>

Is Wix.com a Buy as Wall Street Analysts Look Optimistic?

JMP Securities analyst Andrew Boone reiterates Wix.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) with a Market Outperform and maintains $180 price target.

JMP Securities Reiterates Market Outperform on Wix.com, Maintains $180 Price Target

<a href="https://www.wix.com/">Wix.com Ltd.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) (&quot;Wix,&quot; the &quot;Company,&quot; &quot;we&quot; or &quot;our&quot;), today announced that its Board of Directors (the &quot;Board&quot;) authorized a program to repurchase the Company&#39;s securities (ordinary shares and/or convertible notes), in an amount up to $200 million.
This repurchase program, in addition to the more than $1 billion of aggregate share repurchases executed by the Company since 2021, demonstrates the Board&#39;s continued confidence in the Company&#39;s ability to drive strong cash flow generation and ongoing commitment to increasing shareholder value.

Buybacks

Wix Announces $200M Share Repurchase Program

In a report released today, Justin Patterson from KeyBanc maintained a Hold rating on Wix (WIX – Research Report). The company's shares closed yest...

KeyBanc Sticks to Their Hold Rating for Wix (WIX)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Always pay close attention to new stock price targets from firms, like Needham.&nbsp;



While the firm won&rsquo;t always get it right, price upgrades are still worth paying attention to.&nbsp;



Perhaps they&rsquo;re seeing favorable industry trends that are impacting a covered stock. Maybe the financial health of a stock based on earnings or guidance is improving. Or, perhaps, they liked what they heard in a meeting with management. Whatever the case, it&rsquo;s a good idea to look into the reasoning for a price upgrade.



However, never use new stock price targets as your sole reason for buying.&nbsp;



For one, there&rsquo;s no such thing as a perfect analyst. Two, do your due diligence with technical and fundamental analysis. After all, the last thing you want to do is buy into a stock that&rsquo;s become excessively overbought. Third, look at how other firms rate the same stock. If Needham is bullish on a stock, but four others rate is as a sell, look into why.



With that in mind, let&rsquo;s take a quick look at Needham&rsquo;s new price targets.



<h2>Wix.com (WIX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/wix-stock-300x169.jpg" alt="WIX sign on the office building in Tel-Aviv high tech zone. WIX Logo."><div>Source: MagioreStock / Shutterstock.com</div></div>Needham just raised its price target on cloud-based development stock, Wix.com (NASDAQ:<a href="https://investorplace.com/stock-quotes/wix-stock-quote/">WIX</a>) from $190 to $200, <a href="https://www.investing.com/news/company-news/needham-raises-wixcom-stock-price-target-on-growth-prospects-93CH-3562021">with a buy rating</a>.&nbsp;&nbsp;All after the company increased its free cash flow guidance, driving Needham&rsquo;s free cash flow estimates even higher.



The firm added, &ldquo;We think WIX is still early in a product-driven growth cycle with the launch of WIX studio, which drove bookings acceleration in 2Q and should lead to broad revenue acceleration in &rsquo;25E and continued FCF margin expansion,&rdquo; <a href="https://www.investing.com/news/company-news/needham-raises-wixcom-stock-price-target-on-growth-prospects-93CH-3562021">as quoted by Investing.com</a>.



Helping, WIX also just approved a <a href="https://www.prnewswire.com/news-releases/wix-announces-board-authorization-of-200-million-share-repurchase-program-302193288.html#:~:text=NEW%20YORK%2C%20July%2010%2C%202024,amount%20up%20to%20%24200%20million.">$200 million share buyback program</a>. It also crushed earnings with earnings per share of $1.67, which beat by 31 cents. Revenue of $435.7 million, up 11.7% yearly, beat by $1.95 million.&nbsp;



It increased its <a href="https://www.morningstar.com/news/pr-newswire/20240807ny78354/wix-reports-second-quarter-2024-results">full-year bookings outlook</a> to a new range of $1.802 billion to $1.822 billion, representing 13% to 14% growth. Prior guidance called for growth of between 12% and 14%. It also expects to generate free cash flow of $460 million to $470 million, or 26% to 27% of revenue for 2024 from prior calls for free cash flow of $445 million to $455 million, or 26% of revenue.



However, I wouldn&rsquo;t buy the WIX stock just yet. 



While it&rsquo;s fundamentally strong, it&rsquo;s technically overbought, failing at triple-top resistance. Wait for it to bottom out before buying.



<h2>F5 Inc. (FFIV)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/ffiv-stock-1-300x169.jpg" alt="The front of the F5 Networks (FFIV) office in Silicon Valley, California."><div>Source: Michael Vi / Shutterstock.com</div></div>Needham also raised its price target on F5 (NASDAQ:<a href="https://investorplace.com/stock-quotes/ffiv-stock-quote/">FFIV</a>) to $235, with a buy rating.&nbsp;



F5 posted earnings per share of $3.36, which beat analysts&rsquo; estimates by 39 cents. Revenue of $695.5 million, down 1% year over year, beat by $9.5 million. For the fourth quarter, F5 expects to deliver revenue ranging from $720 million to $740 million compared to expectations of $717.04 million. It is also issued guidance for EPS of $3.38 to $3.50 compared to estimates of $3.33.



&ldquo;Macro pressure and relatively cautious management guidance seemed to have put F5 into the penalty box ahead of its Q3 results, but instead, the company solidly beat estimates and offered guidance well above the Street expectations,&rdquo; <a href="https://www.tipranks.com/news/the-fly/f5-networks-price-target-raised-to-235-from-220-at-needham">as noted by TheFly.com</a>.&nbsp;The firm also liked F5&rsquo;s pipeline strength, closure rates, and software growth.



I&rsquo;d wait to buy FFIV on pullbacks, too. After gapping higher on earnings, the stock has been technically overbought on relative strength index, moving average converganced/divergance (MACD), and the Williams percent range (Williams&rsquo; %R).



<h2>Taiwan Semiconductor (TSM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/08/tsm1600-1-300x169.png" alt="In this photo illustration, the logo of Taiwan Semiconductor Manufacturing Company, TSMC, with AI chip on the background. TSM stock"><div>Source: Muhammad Alimaki / Shutterstock.com</div></div>Needham analysts also have new stock price targets on oversold shares of Taiwan Semiconductor (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) to $210 from $168 with a <a href="https://www.investing.com/news/company-news/needham-maintains-buy-on-tsmc-shares-210-price-target-93CH-3525755#">buy rating</a>.&nbsp;



&ldquo;The firm anticipates that TSMC will increase its revenue growth forecast for 2024 from the previously stated &lsquo;low- to mid-20s&rsquo; to &lsquo;mid- to high-20s,&rsquo; <a href="https://www.investing.com/news/company-news/needham-maintains-buy-on-tsmc-shares-210-price-target-93CH-3525755#">as noted by Investing.com</a>.



Analysts at UBS also reiterated its buy rating on the stock with a $150 price target. According to UBS, &ldquo;after a series of customer discussions and more supply chain work, they were making slight adjustments to their 2025 EPS model to $4.87 from $4.95,&rdquo; <a href="https://seekingalpha.com/news/4138699-nvidia-rises-after-ubs-keeps-buy-rating-amid-blackwell-delay">as noted by Seeking Alpha</a>.



TSM said its July 2024 revenue jumped 44.7% yearly thanks to growing demand for its artificial intelligence chips. Plus, it reported 40% revenue growth in its second-quarter earnings report and raised its revenue outlook. For the third quarter, TSM now expects to see revenue between $22.4 billion and $23.2 billion, which is better than expectations for revenue of $22.47 billion.



Technically, wait to buy TSM, too. After rebounding from a low of $133.57 to $167.19, it&rsquo;s now struggling at its 50-day moving average. However, if TSM can break above its 50-day, it could refill its gap around $185.



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/needham-just-boosted-its-price-target-on-these-3-stocks-august-13-2024/">Needham Just Boosted Its Price Target on These 3 Stocks: August 13, 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Needham Just Boosted Its Price Target on These 3 Stocks: August 13, 2024

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Wix (WIX) Gets a Buy from Barclays

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Press Releases

Wix Studio Announces a New Figma Plugin to Turn Designs into Functional, Interactive Websites

Wix's DevStudio Conference Reveals New Features That Empower Developers to Build Applications for the Wix App Market

Wix Announces Board Authorization of $200 Million Share Repurchase Program

Wix to Announce Second Quarter 2024 Results on August 7, 2024

Wix Releases Comprehensive Suite of AI-Powered Tools for Ideation and Creation of Blogs

Contracts

Wix and Google Expand Strategic Partnership to Offer Wix Users Gemini for Workspace

Wix Reports Second Quarter 2024 Results

Fintech

Moneris extends partnership with Wix to offer all-in-one payments solution to power Canadian businesses

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Wix.com (WIX) Forecast

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