#5 - Shopify (NYSE:SHOP)
The last five years have accelerated the trend toward e-commerce and entrepreneurship, and Shopify Inc. (NYSE: SHOP) is leading the way.
Shopify empowers entrepreneurs and supports small businesses, particularly in developing nations by providing easy-to-use tools and resources that can help with responsible sourcing, carbon offsetting, and the promotion of eco-friendly products. And the company continues to make investments in areas such as artificial intelligence (AI). For example, its Shopify Magic tool helps customers edit photos and offers suggestions to change product descriptions and frequently asked questions.
Subscription revenue is a key to Shopify’s business model, and it’s no surprise that the company’s revenue spiked in 2020 and 2021. But the SHOPP stock chart is showing that demand is down from its peak but hasn’t returned to 2019 levels, and is likely to remain higher. That’s consistent with a labor force that may never again look quite the same as it did prior to 2020.
About Shopify
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
More about Shopify- Current Price
- $94.92
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 26 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $116.00 (22.2% Upside)
