Wix.com (WIX) is introducing a new AI function for its mobile app builder. This should further drive demand for premium subscriptions.
We discussed the stock of Tel Aviv-based tech company Wix.com (WIX) in more detail last summer and after the latest quarterly figures. WIX offers powerful technology that anyone can use to create their own unique website.The company now has over 268 million users. The use of AI products and Wix Studio should ensure further growth in 2024. According to co-founder and CEO Avishai Abrahami, the response to the AI Website Builder has been incredible. Users can create an intuitive and professional website with the tools provided. In addition, Wix Studio...
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'post_content' => 'We discussed the stock of Tel Aviv-based tech company Wix.com (WIX) in more detail last summer and after the latest quarterly figures. WIX offers powerful technology that anyone can use to create their own unique website.The company now has over 268 million users. The use of AI products and Wix Studio should ensure further growth in 2024. According to co-founder and CEO Avishai Abrahami, the response to the AI Website Builder has been incredible. Users can create an intuitive and professional website with the tools provided.
In addition, Wix Studio is a key growth driver, where the company has already created over 1 million Studio accounts, mainly from larger agencies new to Wix. This high adoption rate has led to more premium subscriptions than expected, highlighting the platform\'s powerful design and workflow management features.The company had recently raised prices, but continues to balance margin prioritization and marketing investment.
Wix.com launched a new AI feature for its mobile app builder on Wednesday (June 5), allowing users to create a fully functional, business-ready native mobile app in minutes. Through a conversational AI chat experience, users describe the app\'s intent, after which the AI generates a professionally designed and fully customizable app. Users can further customize the app in the Mobile App Editor and preview it on their mobile device before it goes live on the App Store and Google Play. The AI chat experience for the Mobile App Builder is available in English for global users who purchase the Premium Branded App Plan - subscriptions start at $99 per month.
Wix.com Ltd (ISIN IL0011301780): The company itself believes that Wix has become the most important
primary platform for any kind of online presence around the world. EPS growth is expected to average 25-28% per year in the coming years. The forward P/E 2024 ratio of 31 does not yet seem excessive. The share is now starting the breakout attempt from the pivotal base.
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