10 Best Cheap Stocks That Will Skyrocket

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1. Wix.com Ltd. (NASDAQ:WIX)

Forward P/E: 12.74

Stock Upside Potential: 94.27%

Number of Hedge Fund Holders: 71

Wix.com Ltd (NASDAQ:WIX) is one of the best cheap stocks that will skyrocket. On January 7, Wix.com Ltd (NASDAQ:WIX) was on the move after Raymond James touted the company’s improved web development platform, which has attracted strong interest from complex projects.

Agencies are increasingly shifting complex website builds away from legacy editors and onto the Wix platform. The shift comes on artificial intelligence workarounds, including third-party web hooks and velo stabilizing bugs. Consequently, workflows are becoming increasingly replicable within the Wix ecosystem as agencies utilize Studio and Velo.

Wix platform’s improved reliability is also expected to continue driving more complex builds while also encouraging migrations from WordPress and enterprise solutions. Improvements in the company’s artificial intelligence capabilities are also likely to drive more migration to the Wix platform.

The improvements were the catalyst behind solid third-quarter results despite a challenging market reaction. Revenue in the quarter was up 14% year over year to $505 million, while earnings per share totaled $1.80, above the $1.46 expected.

Wix.com Ltd. (NASDAQ:WIX) provides a cloud-based platform that enables users to easily create, manage, and grow their online presence. It also offers intuitive drag-and-drop website building (Wix Editor, Editor X) with built-in tools for e-commerce (Wix Stores, Payments), marketing, SEO, and business management.

While we acknowledge the potential of WIX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WIX and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 12 Best Cryptocurrency and Blockchain Stocks to Buy Now and 10 Best Debt-Free Penny Stocks to Buy Right Now.

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