Shopify Inc., founded in 2006 and headquartered in Ottawa, Ontario, is a leading Canadian multinational e-commerce company. It offers the Shopify platform, a proprietary e-commerce platform for online stores and retail point-of-sale systems. The platform provides a suite of services, including payments, marketing, shipping and customer engagement tools, catering to over 2 million businesses in approximately 175 countries. Shopify's mission is to help people achieve independence by making it easier to start, run and grow a business, thereby reducing the barriers to business ownership and making commerce better for everyone
December 7, 2023: Shopify stock has dropped slightly, and analysts at Wedbush have downgraded the stock from "outperform" to "neutral" but also raised its price target from $66 to $68.
November 28, 2023: The Black Friday shopping event had a positive impact on online retailer Shopify, and its stock price lifted by close to 9% in the past week.
In the third quarter of 2023, Shopify reported a 25% increase in total revenue, amounting to $1.7 billion surpassing analyst expectations. The company's strong performance was driven by a 22% rise in Gross Merchandise Volume (GMV) to $56.2 billion, showcasing the durability of its business model and its top-line growth and profitability. For the fourth quarter of 2023, Shopify anticipates revenue growth in the high teens year over year. Analysts expect the company to continue its growth trajectory in 2024, with a focus on international expansion.
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The gauge below shows real-time ratings that are based on 26 popular indicators such as moving averages, for specific time periods. It's not a recommendation but is simply technical analysis that can form part of your research.
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