Shopify's Q4 Earnings Highlight Accelerating Growth
Shares of Shopify (NYSE: SHOP) surged on Wednesday, rising about 12% by 12:30 p.m. EST. Bullishness toward the stock follows yet another strong quarterly report for the company.
Shopify's business has seen extraordinary momentum in recent years as merchants adopt the company's e-commerce platform in droves and as Shopify rolls out more services for those merchants. Strong business growth has fueled a monstrous rally in the tech company's stock price. Including Wednesday's gain, the stock is up 219% in the last year alone and 900% over the last three years.
The company's fourth-quarter update was a great reminder of why investors love the stock so much. Not only did the company crush analysts' expectations for its top and bottom lines, but its revenue growth rate accelerated.
Source Fool.com
