Name of opportunity: 👀
Shopify
Taking off again?: 💸
Shopify’s stock is rising in value again, after a selloff in May this year following the release of the Q1 earnings. In the last 6 months, Shopify’s stock dropped in value by 14.89% - but it’s now on the up again, up 8.98% in the last month. Will it make a recovery and go back to its value 6 months ago?
Evercore ISI analyst Mark Mahaney has given Shopify a higher grade, previously listing it as ‘In Line’ - but now as of last week, he has given it a rating of ‘Outperform’. This has driven interest in the stock.
Shopify also has a compound annual growth rate of 24% over the last 3 years, identifying it as a potential ‘growth stock’ for investors who are interested in this kind of opportunity. For a company to be counted as a growth stock, it should increase its earnings faster than its peers.
How hot is this investment opportunity? 🔥🔥🔥
Shopify is currently rated as a ‘Buy’ by analysts. The fact that its stock is currently valued lower than before has been described as a positive, as it means investors could be able to profit if Shopify increases in value again - meaning that this could be a good ‘entry point’ for potential investors, before the stock becomes more expensive. As part of his recent reevaluation of the stock, Mahaney from Evercore ISI praised Shopify’s social media marketing efforts to boost its international growth in further markets.
Overall, analysts think that the price of Shopify Inc. will increase from $64.23 to $75.10 in the next 12 months. If you invested $1000, you might profit $168.88. Mahaney set a price target of $75 when he increased the stock’s ranking - one reason for this is that he said Shopify is very competitive. JPMorgan analyst Reginald Smith said that Shopify is a “cutting edge” company because of the features it offers to users.
Anyone who is interested in investing in Shopify should bear in mind that it is listed in our ‘High Volatility Stocks’ neme.
A storefront for everyone: 🏪
Shopify is a Canadian company, which provides essential internet infrastructure for commerce. Shopify users can build an online store, manage sales, market to their customers, and accept payments in digital and physical locations - using a single cloud-based platform. Last year the company sold its logistics business, streamlining its operations and focusing on its e-commerce software, the most successful part of its business by far. The company was originally founded in 2006 - the founders built what would become Shopify in order to launch their own snowboarding equipment online shop, before making the software available to others.
Which neme?: 🔍
‘SaaS & Cloud Computing’, ‘High Volatility Stocks’
Download Nemo to buy Shopify stock
