Wix.com Stock Price, News & Analysis

Wix (Nasdaq: WIX) announced the completion of a $225 million share repurchase program authorized by its Board of Directors in August 2023. The company repurchased 1,676,623 outstanding shares, approximately 3% of total shares, at an average price of $134.20 per share.

Wix, a leading SaaS website builder, offers a comprehensive platform for creating, managing, and growing a digital presence with advanced SEO, marketing tools, and secure infrastructure.

The repurchase indicates Wix's confidence in its financial health and commitment to enhancing shareholder value.

Usercentrics, a leader in data privacy solutions, has partnered with Wix (NASDAQ: WIX) to launch Cookiebot™ for Wix by Usercentrics on the Wix App Market. This plug-and-play solution simplifies the implementation of consent management for website owners, ensuring compliance with regulations like GDPR. Notable features include a streamlined setup, customizable user experience in over 47 languages, automated scan reports, and auto-categorization of apps.

The launch positions Wix customers as leaders in privacy compliance. The partnership aims to enhance Wix's strategy of broadening its product offerings with leading technology partners, potentially driving increased user engagement on Wix platforms.

Wix reported strong Q1 2024 results, with total revenue of $419.8 million, up 12% year-over-year (y/y), and total bookings of $457.3 million, a 10% y/y increase. The company's Creative Subscriptions revenue rose by 9% to $304.3 million, while Business Solutions revenue surged by 20% to $115.5 million. Wix achieved a record free cash flow (FCF) margin of 26%, driven by stable costs and robust product traction, particularly from AI offerings and Wix Studio. GAAP operating income reached $9.7 million, marking the second consecutive quarter of GAAP operating profit. Looking ahead, Wix raised its full-year bookings outlook to $1,796-$1,826 million and revenue forecast to $1,738-$1,761 million. The company anticipates strong bookings growth in the second half of 2024, driven by AI products and Wix Studio.

Wix (NASDAQ: WIX), a leading SaaS website builder, announced new AI-powered image tools: AI Image Creator, Object Eraser, and AI Image Editor. These tools aim to enhance user experience by simplifying image creation and editing, reducing the need for professional photo editing skills.

The AI Image Creator, powered by Stability.ai, generates high-quality images based on text prompts in various styles, optimizing website visuals. The Object Eraser removes unwanted objects from images easily, improving visual quality, while the AI Image Editor allows users to modify image elements through prompts, making adjustments like changing a table's material from wood to marble straightforward.

Wix's Head of Media, Ido Kosover, emphasized that these features reflect Wix's commitment to providing user-friendly tools that deliver professional results, potentially saving time and costs. These additions further expand Wix's suite of AI capabilities, underscoring its focus on leveraging AI to assist users in web development.

Wix.com (NASDAQ: WIX) has launched the AI Portfolio Creator, a unique solution that leverages AI technology to help users create professional online portfolios effortlessly. By using in-house AI image clustering technology and the latest AI models, users can quickly organize and showcase their work online with just a few clicks. This innovative tool streamlines the portfolio creation process, providing users with customizable layout options, suggested titles, and descriptions.

Wix.com (Nasdaq: WIX) will participate in a fireside chat at J.P. Morgan's Global Technology, Media and Communications Conference on May 22nd. The event will be live-streamed and available for replay on Wix's investor relations website.

Wix.com (NASDAQ: WIX) has launched Wix Proposals, powered by Prospero, a comprehensive solution for managing long-term financial engagements. The tool streamlines the creation of professional proposals and management of financial engagements at contractual and payments levels. It offers extensive design capabilities, payment scheduling options, and robust support for digital signatures. Wix Proposals aims to redefine how professionals approach proposal creation and management, empowering businesses to tell compelling stories with captivating proposals.

Wix.com will release its first-quarter 2024 financial results on May 20, 2024. The company will host a conference call and webcast to discuss the results. Wix is a leading SaaS website builder platform offering business solutions, SEO tools, and marketing features to empower users in building digital presence.