WIX.TA
How much of Stoa is on this name, and how its closed calls turned out.
12
Open calls
3
Analysts covering
0%
Hit rate · 1 resolved
Every position, attributed by name. Locked at publication, graded by the market at the horizon.
What the market did with every call that has closed.
| Analyst | Direction | Entry → resolved | Return | Outcome |
|---|---|---|---|---|
| Sara Cohen | Long | 52,184.0255,435.39 | +6.2% | Near |
List price is a distraction. Realised price per account has risen for five straight quarters, which is where pricing power actually shows up.
Volumes declined again while realized pricing carried the quarter. Price-led beats in this end market have historically preceded share loss.
The savings target has been reiterated without a revised timeline. Reiterating the number while moving the date is how these programmes fail slowly.
The savings target has been reiterated without a revised timeline. Reiterating a number while moving the date is how these programs fail slowly.
Attach on the new modules is genuinely strong. Underlying seats are flat, and seats are the denominator the entire model runs on.
Cloud crossed two thirds of revenue and its gross margin is now above the legacy line. Every further point of mix is accretive, which was not true two years ago.
Renewal cohorts are converting at higher realised pricing than management guided. The churn everyone feared has appeared in seat counts and not in dollars.
The AI SKUs are attaching to existing accounts without the discounting that usually accompanies a new module. That is unusual and it is not in the model.
Upsell into the installed base carries no acquisition cost. At this attach rate the contribution margin on the increment is close to the gross margin.
Renewal cohorts are converting at higher realised pricing than management guided. The churn everyone feared has appeared in seat counts and not in dollars.
This was the first period where incremental revenue from the new fleet exceeded incremental depreciation on it. That crossover was the whole bear case.
Cloud crossed two thirds of revenue and its gross margin is now above the legacy line. Every further point of mix is accretive, which was not true two years ago.
This was the first period where incremental revenue from the new fleet exceeded incremental depreciation on it. That crossover was the whole bear case.
The franchise is durable and the execution has been clean. At this multiple you are underwriting three flawless years, and I would rather own it materially lower.