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Wix Launches AI-Powered Tool to Convert Ideas to New Businesses
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Wix.com Ltd. (WIX - Free Report) has unveiled Business Launcher, an artificial intelligence (AI)-driven tool designed to help users transform new business ideas into reality, from concept to execution. The tool is available in English with free access, alongside optional premium upgrades.
The tool analyzes users' skills, experience and goals to generate personalized business ideas with just a few questions or by uploading a resume. It provides detailed insights, including market potential, search engine optimization (SEO) strategies and revenue opportunities. The users get a complete launch kit with a unique business name, a custom website, a logo, domain name options and marketing tools after choosing a business idea. They are then directed to build their website using Wix’s AI Website Builder. The final step takes users to their customized site dashboard, featuring a personalized business name and essential apps for efficient management. It provides relevant tools to launch and run their business smoothly.
WIX’s Focus on AI-Powered Solutions to Drive Growth
Headquartered in Tel Aviv, Israel, Wix is a cloud-based web development platform. The company's platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow their online presence.
Healthy bookings growth, driven by heightened demand for Studio subscriptions, commerce activity and AI solutions, serve as a key catalyst.
WIX has been focusing on generative AI as it represents a significant business growth driver. The company has also been embedding AI assistants across its platform and has released 29 AI businesses as of the third quarter of 2024. It continues to add new products to gain on the AI boom. New AI business assistants have been improving operational efficiency and customer conversion rates. On Dec. 11, 2024, Wix launched AI Site-Chat, a virtual agent that helps businesses engage visitors 24/7, address queries and provide real-time info. It improves customer experience and boosts potential sales.
A major chunk of new partner bookings is coming from Studio accounts as more agencies adopt Studio for their projects. The percentage of registered users using Wix Payments grew every quarter throughout 2021 and continued in the third quarter of 2024. In the third quarter, 75% of bookings from new customers came from Studio accounts, as more agencies adopted Studio for their projects.
Also, Wix benefits from strong e-commerce growth, leveraging its cloud-based platform to meet merchants' evolving needs as social media, cloud tech, mobile devices and data analytics reshape the e-commerce landscape. Per Mordor Intelligence report, the e-commerce market is estimated at $10.19 trillion for 2025 and is expected to reach $21.22 trillion by 2030, at a CAGR of 15.8% from 2025-2030.
On Jan. 23, 2025, Wix unveiled a new integration with YouTube Shopping, allowing merchants to sell their products directly on the platform. Building on its partnership with Google Shopping, this update enables merchants to display their products in a dedicated store format on their YouTube profiles, further strengthening their social shopping capabilities.
Driven by strong third-quarter results, management raised the 2024 outlook for bookings, revenues and free cash flow. Revenues are now expected to be $1,757-$1,764 million, up from the previous guidance of $1,747-$1,761 million. The company is set to announce fourth-quarter and full-year 2024 results on Feb. 19, 2025, before market open.
Wix’s Zacks Rank & Stock Price Performance
WIX currently carries a Zacks Rank #2 (Buy). Shares of the company have surged 90.6% in the past year compared with the industry's growth of 10.4%.
BlackBerry’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 131.25%. In the last reported quarter, BB delivered an earnings surprise of 200%. Its shares have surged 90.8% in the past six months.
The Zacks Consensus Estimate for InterDigital’s 2024 earnings per share is pegged at $15.19, unchanged in the past 60 days. IDCC earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. The company’s long-term earnings growth rate is 15%. Its shares have jumped 34.9% in the past six months.
INTZ’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 43.06%. In the last reported quarter, Intrusion delivered an earnings surprise of 16.67%. Its shares have surged 66.2% in the past six months.
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Wix Launches AI-Powered Tool to Convert Ideas to New Businesses
Wix.com Ltd. (WIX - Free Report) has unveiled Business Launcher, an artificial intelligence (AI)-driven tool designed to help users transform new business ideas into reality, from concept to execution. The tool is available in English with free access, alongside optional premium upgrades.
The tool analyzes users' skills, experience and goals to generate personalized business ideas with just a few questions or by uploading a resume. It provides detailed insights, including market potential, search engine optimization (SEO) strategies and revenue opportunities. The users get a complete launch kit with a unique business name, a custom website, a logo, domain name options and marketing tools after choosing a business idea. They are then directed to build their website using Wix’s AI Website Builder. The final step takes users to their customized site dashboard, featuring a personalized business name and essential apps for efficient management. It provides relevant tools to launch and run their business smoothly.
Wix.com Ltd. Price and Consensus
Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote
WIX’s Focus on AI-Powered Solutions to Drive Growth
Headquartered in Tel Aviv, Israel, Wix is a cloud-based web development platform. The company's platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow their online presence.
Healthy bookings growth, driven by heightened demand for Studio subscriptions, commerce activity and AI solutions, serve as a key catalyst.
WIX has been focusing on generative AI as it represents a significant business growth driver. The company has also been embedding AI assistants across its platform and has released 29 AI businesses as of the third quarter of 2024. It continues to add new products to gain on the AI boom. New AI business assistants have been improving operational efficiency and customer conversion rates. On Dec. 11, 2024, Wix launched AI Site-Chat, a virtual agent that helps businesses engage visitors 24/7, address queries and provide real-time info. It improves customer experience and boosts potential sales.
A major chunk of new partner bookings is coming from Studio accounts as more agencies adopt Studio for their projects. The percentage of registered users using Wix Payments grew every quarter throughout 2021 and continued in the third quarter of 2024. In the third quarter, 75% of bookings from new customers came from Studio accounts, as more agencies adopted Studio for their projects.
Also, Wix benefits from strong e-commerce growth, leveraging its cloud-based platform to meet merchants' evolving needs as social media, cloud tech, mobile devices and data analytics reshape the e-commerce landscape. Per Mordor Intelligence report, the e-commerce market is estimated at $10.19 trillion for 2025 and is expected to reach $21.22 trillion by 2030, at a CAGR of 15.8% from 2025-2030.
On Jan. 23, 2025, Wix unveiled a new integration with YouTube Shopping, allowing merchants to sell their products directly on the platform. Building on its partnership with Google Shopping, this update enables merchants to display their products in a dedicated store format on their YouTube profiles, further strengthening their social shopping capabilities.
Driven by strong third-quarter results, management raised the 2024 outlook for bookings, revenues and free cash flow. Revenues are now expected to be $1,757-$1,764 million, up from the previous guidance of $1,747-$1,761 million.
The company is set to announce fourth-quarter and full-year 2024 results on Feb. 19, 2025, before market open.
Wix’s Zacks Rank & Stock Price Performance
WIX currently carries a Zacks Rank #2 (Buy). Shares of the company have surged 90.6% in the past year compared with the industry's growth of 10.4%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some better-ranked stocks from the broader technology space are BlackBerry Limited (BB - Free Report) , InterDigital, Inc. (IDCC - Free Report) and Intrusion Inc. (INTZ - Free Report) . BB presently sports a Zacks Rank #1 (Strong Buy), whereas IDCC & INTZ carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackBerry’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 131.25%. In the last reported quarter, BB delivered an earnings surprise of 200%. Its shares have surged 90.8% in the past six months.
The Zacks Consensus Estimate for InterDigital’s 2024 earnings per share is pegged at $15.19, unchanged in the past 60 days. IDCC earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. The company’s long-term earnings growth rate is 15%. Its shares have jumped 34.9% in the past six months.
INTZ’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 43.06%. In the last reported quarter, Intrusion delivered an earnings surprise of 16.67%. Its shares have surged 66.2% in the past six months.