Wix.com (WIX) Expands Its Product Line With Wix Portfolio
Wix.com WIX has announced its new Wix Portfolio, which enables professional users and students to customize and develop an online portfolio to showcase and grow their business.
Wix Portfolio enables its customers to concentrate more on their vision instead of the web designing process. Customers can change their portfolio design with pre-designed layouts, add navigation buttons, change the font and add additional personalization to their portfolio without the need to update pages individually.
Customers can also use the Wix Owner App to update and manage large portfolios efficiently. Also, existing portfolio projects made on external platforms, such as Dribbble, Instagram, DeviantArt and Google Photos can be synced immediately to a user's Wix Portfolio.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
Additionally, any changes made on the synced channels will also be reflected on a user’s Wix Portfolio. This will help the user to save time and resources and enable the user to maintain a consistent online presence.
Per a report from Grand View Research, the global digital marketing software market size was valued at $56.52 billion in 2021 and is expected to witness a CAGR of 19.1% from 2022 to 2030. The industry is expected to benefit from the ongoing digitalization and increased proliferation of smartphones, added the report.
The company is benefiting from the launch of several user-friendly applications as well as strategic collaborations.
In July, the company announced its new Wix Editor, which integrates with the Wix Artificial Design Intelligence and the existing Wix Editor to provide users with simplified complex design capabilities. Customers can now leverage the improved design possibilities to turn their web creation visions into realities.
Prior to that, the company announced a partnership with HotelRunner to redevelop Wix Hotels. Wix Hotels by HotelRunner also aids in the management of rates, policies, taxes and availability and maintains all inventory in sync while adopting complex pricing and revenue management techniques.
The company recently reported non-GAAP loss of 14 cents per share for second-quarter 2022, narrower than the Zacks Consensus Estimate of a loss of 39 cents per share. The company had reported a loss of 28 cents per share in the previous-year quarter.
Total revenues increased 9% year over year to $345.2 million and beat the consensus mark of $343.8 million.
Creative Subscriptions revenues (74.8% of revenues) increased 9% year over year to $258.2 million. Business Solutions revenues (25.2% of revenues) rose 9% to $87 million. As of Jun 30, 2022, registered users were 234 million.
Wix.com currently carries a Zacks Rank #2 (Buy). Shares of the company have lost 65.9% compared with the industry’s fall of 39.5% in the past year.
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Other Stocks to Consider
Some other top-ranked stocks from the broader technology space are Cadence Design Systems CDNS, Badger Meter BMI and Arista Networks ANET. Arista Networks and Badger Meter currently sport a Zacks Rank #1 (Strong Buy), whereas Cadence Design Systems presently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.
Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 6.3% in the past year.
The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.
Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 3.7% of their value in the past year.
The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 10.1% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.
Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 39.3% in the past year.
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