Shopify has rebounded strongly since October 2022, positioning itself as the 'Operating System' of the retail industry with significant growth potential. The company excels by offering a comprehensive, technologically integrated platform, catering to diverse retail needs and attracting both SMBs and large enterprises. With robust financial performance, including a 26% revenue increase in Q3, Shopify's profitability and growth prospects are impeccable.
Shopify (SHOP -3.65%) stock gained 37% in 2024, according to data provided by S&P Global Market Intelligence. The market is getting more excited about the e-commerce platform as it continues to report robust growth and improving profitability while the e-commerce market grows, and moderating inflation could boost consumer spending.
Shopify (SHOP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Shopify (SHOP) reachead $107.64 at the closing of the latest trading day, reflecting a +0.81% change compared to its last close.
Shopify benefits from a booming merchant base, expanding partnerships and a strong solutions portfolio.
Shopify Inc (TSX:SH., NYSE:SHOP) shares moved higher after the eCommerce platform was upgraded to ‘Outperform' by Wedbush analysts.
The latest trading day saw Shopify (SHOP) settling at $107.53, representing a +1.13% change from its previous close.
Shopify's (SHOP -0.34%) stock closed at its all-time high of $169.06 on Nov. 19, 2021. That 9,845% gain from its initial public offering (IPO) on May 21, 2015 would have turned a $1,000 investment into $99,447 in six and a half years.
Shopify (SHOP) reachead $109.96 at the closing of the latest trading day, reflecting a -0.2% change compared to its last close.
Shopify's stock price performed strongly in 2024 as its business trajectory continued during the year. It jumped by over 40% during the year, outperforming the blue-chip Nasdaq 100 and S&P 500 indices.
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.