Shopify stock price went up 2.41% yesterday after a very rough month. Is Shopify a good opportunity for investors seeking to round up their returns during the holidays?
Intuitively, you may think that investing in a cheap stock may come with higher returns than money spent on a stock whose value has already multiplied several times. Yet, cheap stocks hide many risks – what if their low price is simply the result of poor performance or lack of competitive advantage? Shopify’s stock price increased by nearly 3,000% in the past five years. Is it still worth buying today?
How & Where to Buy Shopify Stock Online
If you haven’t bought Shopify yet, or you are planning to add more shares to your portfolio, you can register with one of our top recommended brokers below:
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What Is Shopify?
Shopify is a Canadian e-commerce company that provides a proprietary platform with plenty of retailing features, including payment processing methods, marketing, and shipping, among others.
Should I Buy Shopify Today?
Firstly, Shopify’s annualised revenue growth reached 65% in the past three years. Its platform provides end-to-end solutions for modern e-commerce – customers do not only have an online source of shopping solutions but benefit from all the integrated services to complete their journey, ranging from payment processing to financing and discounts. The platform now hosts more than 1.7 million businesses all over the world.
Secondly, Shopify milks small and medium businesses as it provides an all-in-one solution to help them commercialise their goods and services online. Yet, its services have also been adopted by numerous Fortune 500 companies, including Unilever and PepsiCo.
Here are some more reasons why you may want to consider Shopify:
Shopify owns about 29% of the U.S. market share;
Unlike Amazon, Shopify allows businesses to develop their own brand;
It’s building its own system of robot-powered warehouses throughout the United States;
Shop Pay is to be available on Google and Facebook in 2021, allowing sellers on these platforms to accept Shopify payments.
Solid financial performance, with more than $7.5 billion in cash and only $910 million in debt;
Shopify’s stock price has increased by nearly 3,000% in the past five years. Is there any more room to grow?
Shopify Price Prediction 2021
Shopify currently trades at $1,349.88. It is expected to reach about $3,300 in the next 12 months, with a median price target of $1,700.
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