Stock Forecast: Easy Site Construction and Increased Subscriptions Drives WIX Up

May 29, 2018
  This article was written by Esther Hanon, a Financial Analyst at I Know First.

[Source: Wikimedia Commons, May 29th, 2018]

“Our continued focus on product development and efficient marketing investment once again drove strong financial results. This is a strong start to the year, and we are building momentum to propel continued growth through the remainder of 2018.”

--Avishai Abrahami, Co-founder and CEO of Wix

Stock Forecast: Wix.com Ltd. (NASDAQ: WIX) Up 8.5% After Releasing Q1 Revenue Increase of 49%

Summary:

  • WIX stock jumped nearly 9% following their Q1 earnings announcement on May 9th
  • They have beat expectation for both collection and revenues, and are increasing the full year outlook
  • They reported free cash flow of more than $21 million and revenues of $49 million
  • These strong financial results are driven by their continuous focus on innovation, product development and outstanding market execution
  • They've added 231,000 subscriptions this quarter, the most ever

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