#3 - Shopify (NYSE:SHOP)
The growth of Shopify (NYSE:SHOP) is perhaps the best argument that Amazon (NASDAQ:AMZN) should not face anti-trust regulation. Shopify has an e-commerce platform that allows entrepreneurs and businesses to build an online store even if they have no experience in web design.
By placing Shopify on this list (and leaving Amazon off) it’s not suggesting that investors should avoid Amazon. If you hold AMZN stock I have two words for you, don’t sell.
However, if you were looking to enter a new position, I’d suggest that Shopify may be less noisy while still delivering solid growth. For the better part of 2021, SHOP stock was caught in the conscious decision of investors to rotate out of tech stocks. However, that’s changed in a big way in the last two months and SHOP stock is now sitting on a nifty gain of over 31% for the year.
The analyst community seems to agree. At the end of June, SHOP stock received three price target upgrades suggesting that the stock has a nearly 20% upside.
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
- $106.53
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 16 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $94.95 (10.9% Downside)
