Shopify (NYSE: SHOP) has experienced several consecutive quarters of at least 20% revenue growth, according to analyst Colin Sebastian at Baird. This suggests that the company has a strong track record of growth and could potentially see further upside.
Shopify is coming off a successful 2023, with revenue growing 23% year over year.
The analyst consensus expects the company to post another 21% of top line growth in 2024. This suggests that the company is well-positioned for continued growth in the near future.
Management at Shopify believes that its new business-to-business offering will emerge as a key growth driver, tapping into a $450 billion market.
This could potentially drive further revenue growth and increase the company's valuation.
Overall, the prospects for profitable growth at Shopify have pushed the shares up almost 60% over the last 12 months. ← →
Shopify is coming off a successful 2023, with revenue growing 23% year over year.
The analyst consensus expects the company to post another 21% of top line growth in 2024. This suggests that the company is well-positioned for continued growth in the near future.
Management at Shopify believes that its new business-to-business offering will emerge as a key growth driver, tapping into a $450 billion market.
This could potentially drive further revenue growth and increase the company's valuation.
Overall, the prospects for profitable growth at Shopify have pushed the shares up almost 60% over the last 12 months. ← →
Reference: Found here
Shopify (NYSE: SHOP) has strung together several quarters of at least 20% revenue growth, but there are still catalysts that could lift the stock higher, according to analyst Colin Sebastian at Baird.◈◈ ◈◈
No comments:
Post a Comment