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WIX's AI Website Builder Now Available in Several Languages

Zacks Equity Research
·3-min read

Wix.com Ltd WIX recently expanded the availability of its AI Website Builder in different languages, thereby facilitating users to create websites in their chosen language.

Apart from English, AI Website Builder is now available to global users in French, German, Portuguese, Spanish, Italian, Japanese, Turkish and Korean.

In March 2024, WIX unveiled its key AI product offering — AI Website Builder. This particular solution could create a professional website that meets users’ requirements through a conversational AI chat experience. It is designed to help users to leverage AI technology to create their digital presence.

The websites, fashioned using the AI Website Builder, are optimized with Wix's infrastructure which includes SEO, built-in marketing, security and CRM & analytic tools.

Wix.com Ltd. Price and Consensus

Wix.com Ltd. Price and Consensus
Wix.com Ltd. Price and Consensus

Wix.com Ltd. price-consensus-chart | Wix.com Ltd. Quote

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WIX highlighted that the users have crafted “hundreds of thousands of sites” since the launch of AI Website Builder.

Headquartered in Tel Aviv, Israel and founded in 2006, Wix is a cloud-based web development platform. The company's platform offers solutions enabling businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow their online presence.

WIX is focusing on generative AI as it represents a significant business growth driver. The company recently added AI creation capabilities for its mobile app builder. This will help users to effortlessly craft professional and fully customizable applications. By leveraging AI technology, it transforms the way business apps for iOS and Android could be designed and altered.

In May 2024, WIX introduced three new AI-based image enhancement and creation tools to assist users in improving, customizing and personalizing visual content for their websites. These tools include the AI Image Creator, Object Eraser and AI Image Editor.

Its portfolio of AI offerings also includes AI Portfolio Creator, a groundbreaking tool that leverages the power of AI to aid users in crafting and showcasing an online professional portfolio.

In August 2023 the company unveiled Wix Studio, which allows users to leverage the latest AI technology and develop advanced websites at scale. In the last reported quarter, management noted that over one million Studio accounts have been created by agencies and designers since the roll out of WIX Studio. Also, the rapid conversion of these new accounts has led to more than expected Studio premium subscriptions.

Owing to the accelerating adoption of AI product offerings as well as WIX Studio, management raised outlook for bookings, revenues and free cash flow for 2024.

However, volatile forex movement, fierce competition and rising accumulated deficit continue to weigh on the performance of this Zacks Rank #3 (Hold) stock.

Stocks to Consider

Better-ranked stocks worth consideration in the broader technology space are Badger Meter BMI, Arista Networks ANET and Woodward Inc WWD, sporting a Zacks Rank #1 (Strong Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for BMI’s 2024 EPS is pegged at $3.89, up 9.9% in the past 60 days. BMI’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 12.7%. The long-term earnings growth rate is 15.6%. Shares of BMI have risen 21.1% in the past year.

The Zacks Consensus Estimate for Arista Network’s 2024 EPS is pegged at $7.92, up 5.7% in the past 60 days. The long-term earnings growth rate is 15.7%. ANET’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 15.4%. Shares of ANET have gained 75% in the past year.

The Zacks Consensus Estimate for Woodward’s fiscal 2024 EPS has increased 11.4% in the past 60 days to $5.88. WWD earnings beat the Zacks Consensus Estimate in all the last four quarters, the average surprise being 26.1%. Shares of WWD have risen 62.1% in the past year.

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Badger Meter, Inc. (BMI) : Free Stock Analysis Report

Woodward, Inc. (WWD) : Free Stock Analysis Report

Arista Networks, Inc. (ANET) : Free Stock Analysis Report

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

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