#7 - Shopify (NYSE:SHOP)
Some people make resolutions for themselves or their homes. But what about their businesses? And particularly what if your resolution is to start or grow your business? That’s the case that I’ll make for Shopify (NYSE:SHOP).
Small business owners that are looking to have an online presence are turning to Shopify because it is a “one-stop shop” for building an online store, processing payments, and integrating inventory and shipments.
So not only can Shopify help a business get off the ground, it can help the business stay organized and in control.
SHOP stock is looking a little expensive and analysts have a consensus rating of “Hold” with a consensus price target that suggests the price may have a downside of over 10%.
However, the company is reviewed by over 30 analysts and has a wide range of price targets. And the stock is up about 6% in the last month suggesting that it has some momentum.
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)
No matter what the year 2020 brought to you, the best thing about a new year is the opportunity to have a fresh start. If you’re an investor, you may be looking at the market and wondering if and when the party is going to end. And the reality is that anybody that tells you that they know is lying.
But one way you can prepare your portfolio for whatever comes next is not to fight the trend. Or, in the case of new year’s resolutions, don’t fight consumer behavior. While this may not be a sure-fire way to select stocks, it is a great way to find stocks that are likely to be seeing their shares increase, if only on a short-term basis.
Investing in momentum stocks is different from buying “widow and orphan” stocks. And some of the stocks in this presentation contain more risks than others.
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