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Here's Why Wix.com (WIX) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Different than value or growth investors, momentum-oriented investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Wix.com (WIX)

Headquartered in Tel Aviv, Israel and founded in 2006, Wix.com Ltd. 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.

WIX is a Zacks Rank #3 (Hold) stock, with a Momentum Style Score of A and VGM Score of A. Shares are down 5.2% over the past one week and up 34.4% over the past four weeks. WIX has gained 110.5% in the last one-year period as well. Looking at trading volume, an average of 1,082,005 shares exchanged hands over the last 20 trading days.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, seven analysts revised their earnings estimate higher in the last 60 days for WIX, while the Zacks Consensus Estimate has increased $0.63 to $5.46 per share. WIX also boasts an average earnings surprise of 56.5%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding WIX to their portfolios.

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Wix.com Ltd. (WIX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research