Wix.com Analysts Increase Their Forecasts After Strong Results
Portfolio Pulse from Avi Kapoor
Wix.com Ltd. (NASDAQ:WIX) reported Q4 financial results surpassing expectations with a 14% Y/Y revenue increase to $403.8 million and an adjusted EPS of $1.22. The company forecasts Q1 revenue between $415 million to $419 million and fiscal 2024 revenue between $1.73 billion to $1.76 billion. Wix.com shares rose 5.9% following the announcement. Analysts from Piper Sandler and Needham raised their price targets on Wix.com, citing strong performance and future growth prospects.
February 22, 2024 | 12:12 pm
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POSITIVE IMPACT
Wix.com Ltd. exceeded Q4 expectations with significant revenue growth and positive future revenue projections, leading to a stock price increase and raised price targets by analysts.
Wix.com's better-than-expected Q4 earnings and optimistic revenue guidance for 2024 have positively impacted investor sentiment, leading to a 5.9% increase in stock price. The raised price targets by Piper Sandler and Needham further validate the company's growth prospects, suggesting a positive short-term impact on WIX's stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100