Could Shopify be the next Amazon? In terms of market position it certainly has a long way to go, with Amazon boasting 35,9 percent of US retail sales and Shopify 4.7 percent, according to figures from eMarketer, but the company is fast growing its online commerce solutions and is a favourite amongst fashion upstarts.
Its range of services extends far beyond setting up a simple online store. Solid back-end infrastructure, user analytics, payment processing, tools for marketing, managing social media and advanced reporting tools have made it popular with direct to consumer brands large and small, including Kylie Jenner’s cosmetics company and fitness apparel Gymshark.
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Barclays Keeps Their Hold Rating on Shopify (SHOP) | Analyst Ratings
According to TipRanks.com , Mathivanan is a 5-star analyst with an average return of 17.9% and a 68.9% success rate. Mathivanan covers the Technology sector, focusing on stocks such as Activision Blizzard, Mercadolibre, and GrubHub.
Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $422.93, which is a -10.8% downside from current levels. In a report issued on January 9, Mizuho Securities also initiated coverage with a Hold rating on the stock with a $410.00 price target.
Real Items Foundation Seeks to Improve Consumer Experience Through New Shopify Plugin
The San Francisco-based startup recently unveiled a plugin that utilizes blockchain technology and cloud-based technology to produce non-fungible tokens that can be attached to physical assets produced by various brands. Should a customer purchase one of these products with a token attached to it, they can then scan the product to validate its authenticity, which further protects consumers from fraud.
According to the CEO of the Real Items Foundation, David Menard, quite a few companies, which fall into major industries like the wellness, cosmetic, and fashion industries, are privately testing their beta plugin. The goal of this product? To protect consumers without all of the additional applications or hoops that often come with other products. Menard explains the purpose and functionality of their new tool in the statement below:
If You're Not in It for the Long Haul, Take Profits on Shopify Stock Now | InvestorPlace
Is Shopify (NYSE: SHOP ) the future of eCommerce? Investors are increasingly betting that Shopify stock will be the next online star.
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A new wave of eCommerce is forming and threatens Amazon (NASDAQ: AMZN ). Shopify demonstrated that fact with its Black Friday sales last holiday season when its platform averaged nearly $1 million in sales every minute. Impressive, to say the least.
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USPA integrates MySizeID widget through Shopify platform - Fibre2Fashion
The Better Stock to Buy for TFSA Investors in 2020
Shopify (TSX:SHOP)(NYSE:SHOP) and Lululemon Athletica (NASDAQ:LULU) have both experienced tremendous stock price gains in the past year. Canadian investors with these stocks in their Tax-Free Savings Accounts (TFSA) are growing their income without added expenses from the Canada Revenue Agency.
I don't believe Shopify's stock price performance last year is an indication of future performance. While I'd like to say that the stock can keep up the momentum (and it may actually surprise all of us skeptics), Shopify is a ticking time bomb. You may even end up losing money to billionaire investors with greater retirement potential than you. That being said, I just don't trust Shopify's outstanding price run.
Shopify Inc (NYSE:SHOP) Expected to Announce Quarterly Sales of $484.22 Million - Riverton Roll
According to Zacks, analysts expect that Shopify will report full-year sales of $1.56 billion for the current fiscal year, with estimates ranging from $1.52 billion to $1.60 billion. For the next financial year, analysts forecast that the company will post sales of $2.12 billion, with estimates ranging from $2.00 billion to $2.37 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Shopify.
Shopify (NYSE:SHOP) Receives Hold Rating from Barclays | Highview Herald
Barclays reiterated their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note issued to investors on Sunday, AnalystRatings.com reports. The firm currently has a $420.00 price target on the software maker’s stock.
SHOP has been the subject of a number of other research reports. Loop Capital assumed coverage on Shopify in a report on Wednesday, January 15th. They set a hold rating and a $420.00 target price for the company. Guggenheim restated a hold rating on shares of Shopify in a report on Tuesday, December 3rd. CIBC restated a hold rating and set a $525.00 target price on shares of Shopify in a report on Wednesday, January 22nd. Mizuho assumed coverage on Shopify in a report on Thursday, January 9th.
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