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Wix Grabs Investors' Attention After Setting Subscriber Record

After months of getting the brush off from investors, it seems Ltd. is finally getting some love.

The Tel Aviv-based company, which provides free online tools to build websites, has rallied 16 percent in the past month, rebounding from an 11-month low in September. It rose 4.8 percent last week after reporting a record 140,000 new paying subscribers in the third quarter.

Wix, which has yet to turn a profit since going public two years ago, hired former quarterback Brett Favre and rapper Macklemore to attract more users to its web tools. Even with JPMorgan Chase & Co. defending the splurge as a motor for growth, jittery investors dumped the stock after second-quarter results. This time, they seem to be warming up to the Israeli company.

It “continues to put up solid results, strong growth, a little more profitability than what they’re guiding for,” said Kerry Rice, an...