Wix Q3: Surpassing 'Rule Of 40' Ahead Of Schedule
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Wix has experienced a 60% YTD stock surge due to strong ARPS growth and operating leverage. Q3 FY24 revenue and earnings grew 13% and 52% YoY, with significant contributions from AI innovations and the Partners business. A new price target of $254 suggests a 21% upside.
November 21, 2024 | 12:15 pm
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POSITIVE IMPACT
Wix's stock has surged 60% YTD, driven by strong ARPS growth and operating leverage. Q3 FY24 revenue and earnings grew 13% and 52% YoY, with AI innovations and the Partners business contributing significantly. A new price target of $254 suggests a 21% upside.
Wix's strong financial performance in Q3, driven by ARPS growth and operating leverage, has led to a significant stock surge. The company's focus on AI innovations and the growth of its Partners business have been key drivers. The new price target of $254 indicates a positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100