Too Good to Resist: Wix
Wix.com is a cloud-based web development service company. Its stocks are trading 78% off their peak prices which were recorded during the pandemic. The company is running on the freemium client engagement model, as it offers free access to limited functionality that allows the client to choose options to pay for. This is very useful for small businesses that are looking for an economically priced web-development services.
Even after the end of the pandemic, promotions of the on-line services became even more promising. The company reported Q1 2023 revenues up by 10% YoY to $374 million, with expectations to add 12% over the Q2 2023. The platform’s margins are up with EPS at $0.91 compared to -$0.72 a year ago. This is veru impressive.
When the market correction is over, Wix stock prices are likely to recover. So, investors may miss perfect buy opportunities. The company’s management has also conducted a buyback of 5% of company shares from the market.
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