Wix (WIX, Financial) reported first-quarter revenue of $473.65 million, falling short of analysts' expectations of $488.16 million. Despite the revenue miss, the company is embarking on a transformative journey with the introduction of its new platform, Wixel. This innovative tool is designed to revolutionize digital creation by making it accessible to all users, regardless of their technical expertise.
According to Wix's co-founder and CEO, Avishai Abrahami, the company has been a leader in web development since 2006 and is now expanding its focus to include advanced design and artificial intelligence features. Wixel represents the first iteration of a standalone visual design platform that integrates top-tier design models and a user-friendly interface, ensuring that even novice users can create stunning visuals effortlessly. The company has laid out an ambitious development plan for Wixel, aiming to significantly impact the design industry.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Wix.com Ltd (WIX, Financial) is $238.05 with a high estimate of $300.00 and a low estimate of $169.11. The average target implies an upside of 30.99% from the current price of $181.74. More detailed estimate data can be found on the Wix.com Ltd (WIX) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Wix.com Ltd's (WIX, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Wix.com Ltd (WIX, Financial) in one year is $123.19, suggesting a downside of 32.22% from the current price of $181.74. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Wix.com Ltd (WIX) Summary page.
