For the quarter ended August 3, 2023, WIX.COM LTD ($NASDAQ:WIX) announced total revenue of USD 390.0 million, representing an increase of 13.0% year-over-year. Net income for the period soared 130.2% to USD 33.6 million.
On Thursday, WIX.COM LTD reported stellar financial results for the second quarter of fiscal year 2023. The company’s stock opened at $96.7 and closed at $100.0, soaring by 12.9% from the previous closing price of 88.5. This marks an impressive rebound for WIX.COM’s share prices which have declined in the past few weeks due to concerns over its ability to sustain its current growth trajectory. The company’s financial results demonstrate that it has been able to maintain positive cash flows and profits even during the pandemic period. Its total revenue for the quarter hit a record high, driven by a strong performance in its core business segments.
Moreover, WIX.COM LTD announced that it plans to increase its investments in research and development activities, as well as strategic partnerships with third parties, in order to further accelerate its growth and expand its customer base. With the growth initiatives in place, the company is confident to deliver sustainable long-term growth and profitability for its shareholders. Overall, investors have responded positively to WIX.COM’s stellar financial results and outlook. The company’s stock has surged 12.9% on Thursday to close at $100.0, reflecting investors’ confidence in the company’s future prospects. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Wix.com Ltd. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wix.com Ltd. More…
Cash Flow Statement (Yearly/ Quarterly/ LTM)
Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wix.com Ltd. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Wix.com Ltd are shown below. More…
Income Statement Ratios
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At GoodWhale, we have conducted an analysis of the wellbeing of WIX.COM LTD. Our research has found that WIX.COM LTD is a high risk investment in terms of both financial and business aspects. After conducting an extensive audit, we have identified five key risk warnings in the income sheet, balance sheet, cashflow statement, non financial, and financial journals. These important warnings are only available to our registered users, so if you’d like to get a better understanding of this high risk investment, we invite you to sign up for an account and explore our findings. Our team is dedicated to providing our clients with the most accurate information in order to help them make the best decisions when it comes to investing. More…
Risk Rating Analysis
Star Chart Analysis
In the website development market, Wix.com Ltd faces stiff competition from Box Inc, DigitalOcean Holdings Inc, and SentinelOne Inc. All three of these companies offer similar services, but Wix.com Ltd has managed to stay ahead of the pack by offering a more user-friendly platform.
Box, Inc. is a publicly traded company with a market capitalization of $3.91 billion as of January 2022. The company provides cloud content management and file sharing services for businesses. Founded in 2005, Box is headquartered in Redwood City, California.
– DigitalOcean Holdings Inc ($NYSE:DOCN)
DigitalOcean Holdings Inc is a cloud computing company that offers virtual private servers, storage, and networking services. The company has a market cap of 3.64B as of 2022 and a Return on Equity of -7.86%. DigitalOcean was founded in 2011 and is headquartered in New York, NY.
– SentinelOne Inc ($NYSE:S)
SentinelOne Inc is a cybersecurity company that provides endpoint security solutions. The company has a market cap of 6.44B as of 2022 and a Return on Equity of -12.5%. SentinelOne’s endpoint security platform uses machine learning and artificial intelligence to detect, prevent, and respond to cyber threats in real time. The company’s products are used by enterprise and government organizations worldwide.
Investors in WIX.COM LTD have recently been rewarded with strong financial results for the second quarter of the fiscal year 2023. The company reported a total revenue increase of 13.0% year-over-year to USD 390.0 million, and net income surged 130.2% to USD 33.6 million. As a result, the stock price moved up the same day, making WIX.COM LTD an attractive investment opportunity for those looking to benefit from its strong financial performance.