Shopify , which makes online tools for companies to sell products online, climbed 7.8% on Wednesday, hitting a new 52-week high of $593.89, after the company reported better-than-expected fourth-quarter results and gave upbeat guidance for the full year 2020.
For the fourth quarter, Shopify reported earnings of 43 cents per share, exceeding consensus estimates of 24 cents per share. Revenue jumped 47% year over year to $505.2 million, which was higher than analysts' estimated $482.1 million.
Many things are taking place:
E-Commerce: How Shopify wants to democratize e-commerce
It all started to fulfill an own need to create an online shop: Back in Ottawa in 2006 Tobias Lütke together with a bunch of friends was looking for the perfect software to start selling snowboards in the WWW–and could not find anything suitable.
Still headquartered in Ottawa, Shopify’s core business today is the supply of cloud-based shop-systems: the company designs, sets up and manages retailers’ stores across multiple sales channels, including mobile, web, social media, marketplaces, brick-and-mortar stores, and pop-up stores. It manages everything–from payment to shipping.
Shopify, Bed Bath & Beyond, Google, Apple: Companies to Watch
Shopify ( SHOP ) is climbing this morning after posting a big beat on earnings and revenue last quarter. Shopify provides those back-of-the-house services like payment processing and marketing tools for small businesses. It saw revenue soar 47% last quarter and it boosted guidance for the rest of the year. Shopify is up more than 60% in the last 3 months.
Things aren't looking good for Bed Bath & Beyond ( BBBY ). The home goods retailer said its same-store sales fell more than 5% in December and January, as the company struggles to attract customers to its stores. On the bright side, same-store sales from Bed Bath's e-commerce channel grew about 20% in that two month period. CEO Mark Tritton said the company is going through short term 'growing pains' as it tries to modernize the business.
Shopify (SHOP) to Report Q4 Earnings: What's in the Cards?
In case you are keeping track:
Shopify, Teva rise; Western Union, Lyft fall - StarTribune.com
The ride-hailing service disappointed investors by sticking to its long-term forecast for profitability by the end of 2021.
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The e-commerce company reported a surge in revenue that helped it blow away Wall Street's fourth-quarter earnings forecasts.
The owner of Calvin Klein and other brands reaffirmed its profit forecast for the year, despite the new coronavirus' impact on sales.
The advertising and marketing services company's fourth-quarter profit and revenue beat Wall Street expectations.
$10,000 Invested in Shopify (USA) 5 Years Ago Would Be Worth an Insane $225,000 Today!
Daniel Weinand and Tobias Lütke founded the Canada-based tech company. Neither of them had an idea of how massive the success of Shopify would be when they created the open-source web application framework. They used the framework to build an online store called Snowdevil.
The purpose of the online store was to sell snowboarding supplies with the brand name Snowdevil. A couple of years after the success of their online store, Lutke and Daniel launched Shopify in 2006. Nine years after the launch of Shopify, the founders took their company public, and the rest has been nothing short of a fairy tale.
TSX hits record high on oil rally, Shopify surge | Nasdaq
Canada's main stock index hit a new high at open on Wednesday, driven by energy stocks as oil prices rallied on optimism over fewer new coronavirus cases, while Shopify shot up nearly 20% after upbeat quarterly earnings.
* At 09:30 a.m. ET (14:30 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 90.14 points, or 0.51%, at 17,867.25.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Happening on Twitter
Shopify in 2019 helped nearly 300 million buyers shop from 1 million independent merchants, leading to over $61 bil… https://t.co/g2Fob4OmZ4 skanwar (from Toronto, Canada) Wed Feb 12 14:42:59 +0000 2020
If you think Tesla has been on a run. Take a look at Shopify! Up $75 to $563 on such a huge rally. It's like amazon… https://t.co/wygju6WATC GerberKawasaki (from Santa Monica, CA) Wed Feb 12 14:39:35 +0000 2020
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