Why Shares of Shopify Popped 20% in August
Shares of Shopify (NYSE: SHOP) popped 20.1% last month, according to data provided by S&P Global Market Intelligence, after the company reported 75% year-over-year revenue growth and 83% year-over-year gross profit growth in the second quarter.
Shopify's growth story continued in the second quarter, with revenue, gross profits and other key metrics all jumping by high-double-digit percentages. Aside from the company's revenue and gross profit gains, Shopify also saw its merchant solutions revenue pop 64% and its gross payment volume jump 74% year over year.
Image source: Shopify.
Source: Fool.com
Shopify Inc Stock
€54.40
0.700%
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 37.87% compared to the current price of 54.4 € for Shopify Inc.
