Quick Win by the Algorithm
[Source: commons.wikipedia.org]
“Continued improvements to our product offering and successful execution of marketing campaigns drove robust financial results this quarter, closing out a strong year,”
– Avishai Abrahami, Co-founder and CEO of Wix, press release of FY17 results, February 14th, 2018.
Over the past two weeks Wix.com Ltd (NASDAQ: WIX) stock price jumped by 27.58% from $63.85 to $76.80 per share, outperforming the industry’s index (NASDAQ) by some 23% during this period. Wix’s bullish stock performance followed the company’s press release of the results for Q4 2017 with the following highlights:
- 2017 financial results are released – 2017 revenue of $425.6 million, up 47% y/y and free cash flow of $70.7 million, up 95% y/y
- Strategic business partnership expansion with Google Cloud
- Wix Code official launch
Based on the above, one can see that the company experienced significant boost in revenue and strengthen its main product capabilities with strong alliance with Google. In addition to that, the fact that the functionality of the main product is going to be significantly improved by introduction of Wix Code shows shift in the degree of website customization opportunities for the existing and potential customers of the company. The latest Yahoo Finance data supports that positive outlook and shows that 11 out of 17 analysts took the buy position with regards to Wix’s stock.
[Source: Yahoo Finance]
On February 11th, 2018, I Know First issued a bullish 14 days forecast for Wix’s stock. the forecast illustrated a signal of 11.45 and a predictability of 0.35. In accordance with the forecast, Wix’s stock returned 27.58% over this period, highlighting the accuracy of the prediction produced by the I Know First algorithm.
On February 20th, 2018, I Know First also published a premium article on Wix stock performance expectations for 2018. The financial analysis of the company provides deeper understanding of some fundamental performance drivers which we expect to contribute to the overall bullish behavior of Wix share price. The results of the analysis are in line with the I Know First’ algorithm prediction on that date.
Current I Know First subscribers received this bullish WIX forecast on February 11th, 2018.
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Overview of the Company
Wix is leading the way with a cloud-based development platform for over 122 million registered users worldwide. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, a highly curated App Market, and Wix Code enable users to build and manage a fully integrated and dynamic digital presence. Wix’s headquarters are in Tel Aviv with offices in Be’er Sheva, Berlin, Dnipro, Kiev, Los Angeles, Miami, New York, San Francisco
This GOOGL stock forecast article was written by Eliahu Gabay – Financial Analyst at I Know First.
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