Shares of Wix.com (NASDAQ: WIX) soared on Thursday, following the website builder's excellent fourth-quarter results and multiple analyst price target hikes.
By the close of trading, Wix's stock price was up 13.9%.
Wix's revenue jumped 38% year over year to $282.5 million. The website-creation platform added 185,000 net premium subscriptions in the fourth quarter, bringing its total subscriber count to 5.5 million as of the end of 2020. Wix's total registered user base, meanwhile, climbed 19% to 196.7 million. "The demand for a web presence is higher than ever before," CFO Lior Shemesh said in a press release.
Source Fool.com