Surprisingly, despite being a high-priced growth stock, Shopify has actually outperformed the market during the coronavirus-related sell-off that started last month. Shares are up 12.5% year to date compared to a 18.6% decline in the S&P 500 . However, investors could be overestimating the stock's ability to withstand this crisis.
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It's clear that these businesses are already feeling the impact of the outbreak. Facebook , one of the main outlets Shopify sellers use to advertise, has already seen a weakening in its ads business in countries aggressively responding to COVID-19. That's a sign that companies are seeing less demand in the market, and that pattern is likely to continue through the crisis.
While you're here, how about this:
Shopify (NYSE:SHOP) Stock Price Down 5.8% - Redmond Register
Shopify Inc (NYSE:SHOP) (TSE:SHOP)’s stock price fell 5.8% during mid-day trading on Friday . The company traded as low as $412.02 and last traded at $421.62, 2,566,293 shares changed hands during trading. A decline of 3% from the average session volume of 2,653,179 shares. The stock had previously closed at $447.41.
A number of brokerages have recently issued reports on SHOP. National Bank Financial reiterated a “buy” rating and set a $600.00 target price on shares of Shopify in a report on Friday, February 14th. Loop Capital decreased their target price on Shopify from $540.00 to $350.00 and set a “hold” rating for the company in a report on Friday, March 20th.
Shopify Unite 2020 developers conferences switched to online-only event | Gadgets Now
At least 65 tech events globally have been cancelled, postponed or converted in a virtual conference due to the coronavirus outbreak. While Google has completely cancelled its annual developer’s conference Google I/O, Apple on the other hand, has cancelled WWDC 2020 physically and has switched to an online event. Other tech giants like Facebook and Microsoft have also cancelled their physical events this year.
Expecting a $1,200 Coronavirus Check? These 3 Stocks Should Bounce Big.
Lawmakers have agreed on a coronavirus stimulus proposal that should start sending money to the vast majority of Americans in the near future. The typical coronavirus check will be for $1,200 per adult, with those with families set to get an additional $500 per child.
Plenty of people need to put that money toward their current financial needs, and there's nothing wrong with that at all. If you're fortunate enough to have $1,200 or more coming but don't need it for your short-term finances, then these three stocks are shaping up to recover strongly from the coronavirus bear market and keep delivering the great returns they've given their long-term shareholders.
While you're here, how about this:
Baird Financial Group Inc. Increases Stock Position in Shopify Inc (NYSE:SHOP) - Redmond Register
Baird Financial Group Inc. grew its holdings in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,820 shares of the software maker’s stock after purchasing an additional 1,317 shares during the quarter. Baird Financial Group Inc.’s holdings in Shopify were worth $5,892,000 at the end of the most recent reporting period.
People price-gouging face masks on Facebook, Instagram black market - Business Insider
Business Insider found multiple profiles on both Facebook and Instagram advertising expensive face masks outside the social media platform's e-commerce listings or advertisements. The profiles don't provide verification that the masks exist, let alone fulfill the coronavirus prevention claims made in posts.
After Business Insider reached out to Facebook, Instagram's parent company, with the profiles in this article, each of the profiles were removed. Facebook says it removed the three Instagram accounts between the time the reporting started and the time Business Insider reached out.
Belpointe Asset Management LLC Sells 294 Shares of Shopify Inc (NYSE:SHOP) - Redmond Register
Belpointe Asset Management LLC decreased its position in Shopify Inc (NYSE:SHOP) (TSE:SHOP) by 24.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 899 shares of the software maker’s stock after selling 294 shares during the period. Belpointe Asset Management LLC’s holdings in Shopify were worth $357,000 at the end of the most recent quarter.
Analyst Rating: Will Shopify Inc (SHOP) Stock Outperform the Market? - InvestorsObserver
InvestorsObserver is giving Shopify Inc (SHOP) an Analyst Rating Rank of 35, meaning SHOP is ranked higher by analysts than 35% of stocks. The average projection by analysts for SHOP is $537.738 over the next 12 months and analyst's classify the stock as a Buy
Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers.
Happening on Twitter
(1/6) With COVID-19 affecting independent businesses around the world, cash flow has become a major concern. Her… https://t.co/OOMYciF84I Shopify (from worldwide) Wed Mar 25 14:42:42 +0000 2020
Our member @Shopify has compiled resources, information & tools to support #CdnBiz and help them navigate through t… https://t.co/0PwHnbZ1gi CdnChamberofCom (from Ottawa, ON) Wed Mar 25 13:01:16 +0000 2020
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