Shopify Continues Its Torrid Growth
Shopify Inc. (NYSE: SHOP) has been on quite a roll lately, and expectations were high going into the release of its financial results. The company, which provides software for small and medium-sized business to create e-commerce websites, has been on fire since it first went public in mid-2015. The stock had risen an impressive 115% since its IPO, so the bar was set pretty high, but Shopify didn't disappoint.
For the just-completed quarter, Shopify produced revenue that grew to $151.65 million, up 75% year over year, while its net loss grew to $14.03 million, which amounted to a loss per share of $0.15. The company has continued to focus on growth rather than profitability at these early stages.
Shopify's multi-platform approach continues to attract new merchants. Image source: Shopify.
Source: Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 4 Buy predictions and 0 Sell predictions.
As a result the target price of 75 € shows a positive potential of 39.74% compared to the current price of 53.67 € for Shopify Inc.
