Wix.com Ltd. (NASDAQ:WIX) is one of them 10 stocks investors are watching closely this week.
Wix’s share price rose 33.25 percent on the week after reporting 13 percent growth in earnings last year and announcing an aggressive plan to complete a $2 billion share buyback program last year.
Earlier in the week, Wix.com Ltd. ( NASDAQ:WIX ) said its revenue rose to $1.99 billion in 2024 from $1.76 billion last year, thanks to double-digit growth in revenue from creative subscriptions and business solutions.
Photo by Karolina Grabowska from Pixel
However, net income still fell 63% to $50.6 million from $138.3 million year over year.
In the fourth quarter alone, Wix.com Ltd. (NASDAQ:WIX) said revenue rose 14 percent to $524.3 million from $460.4 million. However, it went from a net income of $48 million to a net loss of $40.2 million in the same period.
For this year, the company is targeting revenue growth in the mid-teens in the first quarter and full-year period.
Bookings are also expected to grow mid-teens over the full year period.
Following the results, Wix.com Ltd. (NASDAQ: WIX ) has announced plans to be aggressive and fast in its share buyback program this year, as it already looks to complete a $2 billion share repurchase option.
By the end of 2025, the company has already bought back shares worth $575 million.
While we acknowledge the potential of WIX as an investment, our belief is that some AI stocks hold great promise for delivering high returns and limited risk. If you’re looking for a very cheap AI stock that’s also a big beneficiary of Trump’s tariffs and onshoring, check out our free report Best short-term AI stocks.
Read more: 30 stocks that should double in 3 years and 11 Secret AI Stocks to Buy Right Now.
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