Wix Unveils AI Site-Chat to Transform Online Customer Engagement

Wix.com Ltd. WIX has launched an artificial intelligence (AI) Site-Chat, a virtual agent designed to transform how businesses interact with website visitors. This innovative tool provides 24/7 real-time responses, enabling businesses to address customer queries, share accurate information and recommend relevant products and services.The AI Site-Chat integrates with a website's internal systems, delivering “up-to-the-minute information” and personalized recommendations by recognizing user intent. It also helps businesses capture leads, refine offerings based on customer inquiries and develop targeted sales strategies. Fully customizable, the tool aligns with brand identity and adheres to specific business guidelines.WIX highlighted that the feature offers small and medium-sized businesses (SMBs) an enterprise-level solution for customer service, sales and support, reducing friction, boosting engagement and increasing conversions.WIX’s Focus on AI-Powered Solutions Bodes WellWix remains committed to strategic investments in AI, Studio and commerce solutions. WIX Studio, the premium platform designed for agencies and professionals, accounted for 75% of new partner bookings in the third quarter, marking a significant rise from the previous quarter. The platform’s compelling features and efficiency have made it the foremost choice for larger projects.The company focuses on generative AI as it represents a significant business growth driver. Also, WIX is embedding AI assistants across its platform and released 29 AI business assistants. It continues to add new products to capitalize on the AI boom. New AI business assistants are improving operational efficiency and customer conversion rates.In the third quarter, the company’s commerce platform showed impressive results, with Gross Payment Volume (GPV) increasing 14% year over year. Improved GPV, along with a consistent sequential take rate, led to a 23% year-over-year increase in transaction revenues, which reached $54 million. Moreover, Partners accounted for more than 50% of GPV during the third quarter.Robust activity in the commerce segment further contributed to bookings and revenue acceleration. The continued evolution of AI and Studio offerings is expected to drive revenue growth. AI-powered solutions will enhance user experience and create opportunities for direct monetization, providing a significant tailwind for 2025 and beyond.Wix.com Ltd. Price and Consensus Wix.com Ltd. price-consensus-chart | Wix.com Ltd. QuoteMoreover, the company has raised its projections for the full year. For 2024, bookings are expected to reach $1,822–$1,832 million, up from the previous guidance of $1,802–$1,822 million. Revenues are expected to be between $1,757 million and $1,764 million, suggesting 13% growth from the prior-year quarter's reported figure. For the fourth quarter of 2024, revenues are expected to be between $457 million and $464 million, or up 13-15% year over year, and the company anticipates exiting the year with bookings growth of 18%.Wix’s Zacks Rank & Stock Price PerformanceWIX currently carries a Zacks Rank #3 (Hold). Shares of the company have surged 96.2% in the past year against the industry's growth of 13.1%.Image Source: Zacks Investment ResearchStocks to ConsiderSome better-ranked stocks from the broader technology space are Shopify Inc. SHOP, Amazon.com, Inc. AMZN and C3.ai, Inc. AI. SHOP, AMZN & AI presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Shopify’s 2024 earnings per share (EPS) is pegged at $1.25, unchanged in the past seven days. SHOP earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 24.5%. The company’s long-term earnings growth rate is 42.6%. Its shares have jumped 59% in the past year.The Zacks Consensus Estimate for Amazon’s 2024 EPS is pegged at $5.19, unchanged in the past seven days. AMZN earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 25.85%. The company’s long-term earnings growth rate is 28.3%. Its shares have surged 54.7% in the past year.C3.ai’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 60.53%. The company’s long-term earnings growth rate is 26%. Its shares have surged 35.7% in the past year.Zacks Naming Top 10 Stocks for 2025Want to be tipped off early to our 10 top picks for the entirety of 2025?History suggests their performance could be sensational.From 2012 (when our Director of Research Sheraz Mian assumed responsibility for the portfolio) through November, 2024, the Zacks Top 10 Stocks gained +2,112.6%, more than QUADRUPLING the S&P 500’s +475.6%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2025. Don’t miss your chance to get in on these stocks when they’re released on January 2.Be First to New Top 10 Stocks >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report C3.ai, Inc. (AI): Free Stock Analysis Report Wix.com Ltd. (WIX): Free Stock Analysis Report Shopify Inc. 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