The Wix.com Ltd. (NASDAQ: WIX) price went up by 13.89% on Thursday’s trading session, which corresponds to a fall of $41.73 from the previous market close price. The day’s lowest point in the share price was $296.00, while the day’s peak was $353.15. According to data provided by Barchart, WIX closed at $302.16, while 3.68 million units traded on the day.
In the face of the COVID-19 coronavirus pandemic, Wix.com rose in recent quarters, like many other internet-related companies. Another growth driver was the company’s fourth-quarter report, which was presented this week. Nearly 7.5 million new subscribers have joined Wix.com in the past, making the current total 197 million. Several premium customers increased 185,000 from the third quarter to 5.5 million. From year to year, the number of premium customers increased by 22%. Small businesses have grown by 75% year-over-year.
In the year to date, total revenue for Wix.com Ltd. (WIX) reached $ 283 million. Despite investing in growth, the company generated a profit margin of around 8% from its free cash flow. It increased its free cash flow to $ 129 million.
Although Wix.com had potential, it was also an undervalued stock during the pandemic. A variety of websites can be created on the platform, making it ideal for modern business. WIX makes it possible for various services providers to go online, such as legal advice, financial assistance, real estate services, and more.
Wix.com Ltd. (WIX) rolled out their Wix Editor X recently, geared towards developers. With Editor X, you can get it either with or without the low-level code. It also lets multiple team members work remotely at a site simultaneously. Wix.com enables work from home and provides further legitimacy to its position as the leading e-business platform.
Based on preliminary forecasts, Wix.com Ltd. (WIX) revenue for 2021 is expected to grow annually by at least 29 %, with a YoY increase of 35 %. The need for the company’s services is clear, and its products and services continue to be in high demand.