WIX - Wix Stock Has Soared in 2023: Is the Party Just Getting Started?
2023 has started out hot for many technology stocks, and Wix (NASDAQ: WIX) is no exception. The website builder and provider of online tools for small businesses is up almost 20% year to date (YTD) after falling 80% from its 2021 highs. After its recent fourth-quarter earnings, shares popped 10% in late February. Investors seem to like what management has to say about becoming more efficient with expenses while also putting up strong revenue growth to close out the year.
Wix's stock is soaring to start 2023. Should you join the party and buy shares today? Let's investigate.
Wix put in a strong fourth-quarter earnings report, despite seeing headwinds from foreign currency exchange rates. Sales grew 6% year over year to $355 million, beating analyst expectations of $352 million.
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Wix Stock Has Soared in 2023: Is the Party Just Getting Started?