#4 - Shopify (NYSE:SHOP)
Turning our attention away from the housing market brings me to Shopify (NYSE:SHOP). It’s no surprise that the millennial and Gen-Z generations are more interested in being entrepreneurs, even if it’s only as a side hustle. If the analysts are to be believed, this is a trend that will accelerate should they be free from the burden of student debt.
And when they’re looking to set up their online storefront, Shopify is a logical candidate. Shopify is one of the software as a service (SaaS) stocks that is perfectly positioned for a generation that not only embraces e-commerce but does so on their mobile phones.
Analysts are cooling on the stock a bit, it’s now a consensus hold and the price target suggests some downside. However SHOP is the leading, and some might say only, e-commerce alternative to Amazon (NASDAQ:AMZN). And for businesses that are looking to get started, Shopify is the lower cost alternative as well.
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.
Read More - Current Price
- $58.53
- Consensus Rating
- Hold
- Ratings Breakdown
- 18 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $76.86 (31.3% Upside)
