One Analyst Thinks Shopify Can Raise Revenue More Than 300% by 2025
Shopify's (NYSE: SHOP) sales will soar over 300% to $10 billion by 2025.
So says Jefferies analyst Samad Samana. On Thursday, Samana raised his rating on Shopify's stock from hold to buy. He also boosted his price forecast from $1,150 to $1,250, representing potential gains to investors of roughly 26% from the stock's current price near $988.
Samana sees the e-commerce leader enjoying "robust growth" in the coming years, as the migration of retail sales to online channels accelerates. He expects Shopify to deliver excellent results in its upcoming fourth quarter, driven by a strong holiday selling season. Additionally, he believes that over time, Shopify can generate larger fees on its gross merchandise volume -- essentially, the total amount of sales that merchants make on its platform.