Wix.com Stock Price, News & Analysis

Wix (Nasdaq: WIX) has authorized a $300 million share repurchase program to enhance shareholder value and counter dilution from stock-based compensation. This follows a previous $200 million buyback initiative. CFO Lior Shemesh emphasized confidence in generating free cash flow and maintaining a healthy balance sheet, viewing the current stock price as attractive for repurchase. The program will employ various repurchase methods and may be adjusted based on market conditions. Wix aims to fund these repurchases using available cash and future operational cash flow.

Klaviyo has announced a new integration with Wix.com Ltd (WIX), enhancing Wix users' ability to utilize Klaviyo's customer data platform for personalized email and SMS marketing. This integration allows seamless access to customer data and communications, helping brands build stronger customer relationships and increase revenue. The partnership addresses growing consumer demand for personalized experiences, enabling hyper-targeted messaging based on user interactions on Wix. This integration is available to users in English.

Wix and Semrush announced a partnership enabling Wix users to access Semrush's extensive SEO tools directly from the Wix platform. This integration allows users to identify effective keywords and improve their website visibility in search results. Powered by Semrush's database of over 21 billion keywords, users can access critical metrics like search intent and keyword difficulty. The integration is part of Wix's SEO Setup Checklist and aims to democratize SEO, enhancing the tools available for businesses to manage their online marketing effectively.

Wix (Nasdaq: WIX) has launched Design Threads, a comprehensive digital report and exhibition exploring contemporary design issues, produced in collaboration with PORTO ROCHA and float. Featuring insights from 30 design leaders and 250 community responses, it examines urgent questions surrounding the design profession, including AI insecurity and the future of democratization. The report, released on September 15, 2022, invites dialogue and reflection on the realities designers face today. An exhibition showcasing these themes will be held at the Wix Playground in New York City starting September 16.

Wix.com Ltd. (NASDAQ: WIX) launched Wix Portfolio, a tool for creating professional online portfolios. Users can customize layouts based on industry trends and sync projects from external platforms like Instagram and Google Photos. Approximately 40% of Wix users have portfolio pages, indicating a high demand. The new offering allows users to manage their portfolios easily via the mobile app, enhancing online visibility and potential revenue generation for various professions.

Wix.com Ltd. (NASDAQ: WIX) held its inaugural Wix DevCon 2022 on September 8 in New York, showcasing developer-centric tools aimed at enhancing web development experiences. The new offerings include Wix Blocks for application creation and hyper-customizable eCommerce APIs, enabling developers to build scalable online businesses. The integration of Git supports collaborative coding, enhancing team workflows. Wix emphasizes its commitment to continuous innovation, aiming to provide robust support for developers as they shape the future of web creation, moving beyond its no-code roots.

Wix.com Ltd. (NASDAQ: WIX) has partnered with Choice Inc. to enable U.S. merchants to accept ACH electronic funds transfer payments. This integration allows merchants to receive payments directly into their bank accounts, reducing processing times and fees while lowering fraud risks. The partnership enhances customer experience through various payment channels, including online checkout and invoicing. Merchants will benefit from real-time data for better transaction management and reporting, ultimately aiming to increase revenue and profitability.

Wix.com Ltd. (Nasdaq: WIX) announced its participation in a fireside chat at the Evercore ISI 2nd Annual Technology Conference on September 8, 2022, at 2:15 p.m. ET. The event will be accessible via live audio webcast, with an archived replay available on Wix's investor relations website. Wix is a leading platform for creating and managing a digital presence, offering a range of business solutions, advanced SEO tools, and continuous innovation to empower users in building their brands.

Wix.com Ltd. reported Q2 2022 revenue of $345.2 million, a 9% year-over-year increase, with total bookings at $354.6 million, up 3% year-over-year. The company anticipates approximately $150 million in annualized cost savings through a new cost reduction plan, aiming to improve profitability. Partners revenue saw significant growth, up 31% year-over-year. Despite market challenges, Wix is focused on operational efficiencies and enhancing its platform, including the launch of a new editor experience with AI integration.