Shopify Inc (TSX:SH., NYSE:SHOP) received a boost on Monday after Citi reiterated its Buy rating on the e-commerce platform, citing expected growth in the second half of 2024 and improved profitability beginning in 2025.
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Zacks.com users have recently been watching Shopify (SHOP) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Historically, stock market rallies have often started in October due in part to holiday spending. Shopify is the market leader in e-commerce and omnichannel commerce software.
AI stock and Shopify partner Klaviyo broke out past its first entry last week. The marketing automation provider went public in September.
Shopify is a credible challenger to Amazon, leveraging a capital-light model and untapped merchant network to scale rapidly and profitably. Shopify Capital has already extended $5.1 billion in credit, offering loans tied to merchant revenue, potentially disrupting traditional banks and venture funds. Shopify's loans, while advertised at low costs, have actual APRs between 32% and 45%, making them highly profitable and attractive to institutional investors.
Shopify (SHOP) closed the most recent trading day at $80.75, moving +1.88% from the previous trading session.
E-commerce giant Shopify Inc. SHOP is one of those tech stocks still very much trading in the shadow of its COVID-era highs. Its story is one of an eye-watering rally and a painful, nearly 90% crash from which it's still recovering.
Shopify has a large market opportunity as online sales increase as a percentage of total retail sales. The e-commerce platform is growing at double-digit rates while rightsizing its business and posting profits.
Shopify (SHOP) closed the most recent trading day at $78.72, moving +0.05% from the previous trading session.
E-commerce giant Shopify Inc. NYSE: SHOP is one of those tech stocks still very much trading in the shadow of its COVID-era highs. Its story is one of an eye-watering rally and a painful, nearly 90% crash from which it's still recovering.
Dominic Ball at Redburn Atlantic revised his target price higher on Shopify, and Trevor Walsh at JMP Securities revised his target price higher on Axon Enterprise. Shopify is a recognized leader in digital commerce software, and its merchants account for 10% of online retail sales in the United States and 6% in Western Europe.