#4 - Shopify (NYSE:SHOP)
At one point in 2021, Shopify (NYSE:SHOP) stock was changing hands at over $1,700 a share. But if I were to tell you that as of September 30, 2021 only 13% of U.S. retail sales were handled online, you might become more interested. And if I followed that up by pointing out that SHOP stock is now trading at 41% below its 52-week high, it becomes a very attractive proposition.
The company’s business model is ideal for many of the small- and mid-sized businesses that have expanded as many individuals embraced entrepreneurship during the pandemic. As evidence of this, the company reports that cumulative gross merchandise value for Shopify merchants doubled from $200 billion to $400 billion in just 16 months from the start of the pandemic. Prior to that it had taken the company 15 years to get to $200 billion.
From a technical standpoint, SHOP stock is looking oversold. And according to information gathered by MarketBeat, analysts expect the stock to climb over 57% to a price of $1617.75 in the next 12 months.
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
- $108.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 24 Buy Ratings, 15 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $99.03 (9.1% Downside)
