#5 - Shopify (NYSE:SHOP)
The Covid-19 pandemic has made it clear that the only way many retail businesses will be able to survive is with a strong web presence. Shopify (NYSE:SHOP) makes it easy for businesses of all sizes to do just that. But what makes Shopify particularly attractive is that it tends to cater a bit more to the smaller businesses that may feel underappreciated by Amazon (NASDAQ:AMZN).
SHOP stock got caught up in the tech sector wipeout and is trading basically flat for the year. Some might be thinking that the company’s rapid growth will slow down as the pandemic dies down. However, the e-commerce narrative is not going away, and that means the long-term growth story for the stock is still in place. Wood seems to think so as SHOP stock makes up nearly 3% of the ARK Next Generation Internet (NYSEARCA:ARKW) portfolio. The consensus opinion of analysts is a hold, but the 12-month price target gives the stock nearly a 20% upside from current levels.
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
- $106.96
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $94.95 (11.2% Downside)
