WIX Rolls Out Seating Plan Generator to Manage In-Person Events – April 19, 2022

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Wix.com (WiX Free Report) recently launched a new builder for business and venue owners to create custom seating plans for their in-person events. This will allow their customers to select and purchase assigned seats for these events.

Organizing a big event for clients can be a daunting task, especially for small businesses. With the help of Wix’s new Seating Plan Generator, business owners can develop a custom seating plan based on their specific venue and create different ticket types to align with their seating plan. So, the latest business builder aims to simplify the process of creating, managing, and monetizing events for business owners.

The Wix Seating Plan Generator is available to all Premium Enterprise users at no additional cost.

What does the room plan generator offer?

With Wix’s Seating Plan Generator, business owners and venues can create detailed floor plans of the venue and ticket prices based on seat location. They can also design the map with any variation of seating for their events, including tables, rows of seats, areas with general seating such as standing room areas, reserved VIP sections or even a combination of any of the above. When customers try to buy their tickets, they will be able to see all available seats, hover over a seat to see its price, and click to select the seats they want to buy.

Wix is ​​very optimistic about this release. The launch of the Seating Map Builder allowed businesses and venues to manage their event ticketing themselves – a task they had previously hired developers to do. In fact, according to Wix, the average number of tickets per event and the average ticket price per event have already jumped since the release of this exciting builder.

Seating Map Builder is part of the company’s Wix Events event management platform for tickets and RSVPS. Besides live and in-person events, business owners can host their events on their website, connect video conferencing solutions such as Wix Live or Zoom, send invitations and accept payments online. The platform also includes other networking and social tools for event attendees, and businesses can leverage the Wix Owner App to check in guests, sell tickets, and manage their events on the go. As businesses and venues gradually return to in-person events, Wix Events has seen an influx of new users over the past year.

Based in Tel Aviv, Israel, Wix offers web development, design, solutions and applications through an online platform that enables businesses, organizations, professionals and individuals to create a strong digital presence. Its user-friendly applications and cloud-based platform have spurred customer growth.

Company management expects the number of registered users to grow as the company expands its shipping partners and adds enhanced features. Its product innovation and partnership agreements are expected to expand the user base, which can boost long-term revenue.

Last month, Wix announced the integration of WIX Restaurants with the white-label fulfillment platform DoorDash – DoorDash Drive. This will provide restaurateurs registered on WIX Restaurants with access to a large delivery fleet (via APIs and custom integration). It will help restaurant owners streamline their operations by integrating delivery into their direct order channel with flat-rate delivery charges.

Shares of Wix have plunged 69.5% over the past year, compared to a 27.4% drop for the sector.

Image source: Zacks Investment Research

Zacks ranking and other key picks

Wix currently carries a Zacks Rank #2 (Buy).

Other top-ranked stocks in the broader tech space include Bel Fuse (BELFB free report), American software (AMSWA free report) and Iridium Communications (IRDM free report). While Bel Fuse sports a Zacks rank of 1 (strong buy), American Software and Iridium carry a Zacks rank #2. You can see the full list of today’s Zacks #1 Rank stocks here.

Bel Fuse forecasts a 3.65% earnings growth rate for 2023. The Zacks consensus estimate for Bel Fuse earnings in 2023 has remained unchanged for the past 30 days.

Earnings per share for Bel Fuse in the first quarter of 2022 are estimated at 22 cents, suggesting year-over-year growth of 195.65%. BELFB shares have fallen 8.8% over the past year.

American Software forecasts a 24.24% earnings growth rate for fiscal year 2022. The Zacks consensus estimate for American Software’s earnings for fiscal year 2022 was revised upward by 4 cents during of the last 60 days.

American Software’s earnings have exceeded the Zacks consensus estimate for the past four quarters, with the average surprise being 92.14%. AMSWA shares are down 7.2% over the past year.

Iridium has a projected earnings growth rate of 157.14% for 2022. The Zacks consensus estimate for Iridium earnings in 2022 has been revised up 2 cents in the past 60 days.

Iridium’s earnings have exceeded the Zacks consensus estimate in two of the past four quarters and hit the same result twice, with the average surprise being 39.4%. IRDM shares have risen 3.2% over the past year.

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