Wix (WIX) has released an update.
Wix.com Ltd. has reported a strong start to 2024, with first-quarter revenues and bookings exceeding expectations, leading to an impressive 26% free cash flow margin. This performance has prompted the company to raise its full-year outlook, with bookings growth expected to accelerate in the second half of the year, driven by the success of their AI product suite and Wix Studio. The company is confident in its ability to significantly surpass the Rule of 40 in 2025, signifying a balance of growth and profitability.
For further insights into WIX stock, check out TipRanks’ Stock Analysis page.
