Wix.com's (NASDAQ: WIX) shares have been performing well on the trading front, with a gain of 32.5% year to date compared with the S&P 500 composite and sub-industry's growth of 16.2% and 1.8%, respectively. The stock has gained 4.2% since announcing solid second-quarter 2024 results on Aug 7. The stock is still trading 8.7% below its 52-week high of $178.65, which makes it relatively affordable for investors. Headquartered in Tel Aviv, Israel and founded in 2006, WIX is a cloud-based web development platform. It offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms and grow the companies' online presence. The company's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters with the average surprise being 29.8%. Image Source: Zacks Investment Research WIX Studio & AI Strategy Propelling Growth Increasing adoption of the product portfolio, especially various AI products and WIX Studio, has been driving WIX's performance. The addition of new features and enhancements to WIX Studio is driving its uptake. Management highlighted that the number of Studio accounts and rate of new Partners joining the Wix platform through Studio continues to better expectations. The addition of new AI-powered offerings to its product portfolio is another tailwind. WIX is also focusing on embedding AI assistants across its platform and has released 17 AI business assistants so far. In June 2024, Wix launched advanced AI creation capabilities for its mobile app builder. The initiative is set to empower users to ...