#1 - Shopify (NYSE:SHOP)
The first company I want to look at is Shopify (NYSE:SHOP). Yes, I said I wasn’t going to be obvious with a name like Amazon, but e-commerce is a trend that’s too big to ignore and will continue into 2021 and beyond. Shopify is well-positioned to grab market share.
Shopify has managed to carve out a niche for itself as an e-commerce platform for small to midsize retailers who may feel underserved by Amazon. The company provides all the tools businesses need to set up and run an online store.
And investors will appreciate the growth. Since the company’s initial public offering (IPO) in 2015, SHOP stock has climbed over 4,000%. Recent partnerships with Pinterest (NYSE:PINS), Walmart (NYSE:WMT) and Chipotle Mexican Grill (NYSE:CMG) will add to the company’s growth.
The Covid-19 pandemic has underscored the importance of an e-commerce presence. This makes it highly likely that Shopify will continue to add customers as retailers understand that an online presence is now a matter of survival.
About Shopify
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
Read More - Current Price
- $58.53
- Consensus Rating
- Hold
- Ratings Breakdown
- 18 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $76.86 (31.3% Upside)
