Why Shopify's Stock Has Popped 110% in 2017
Internet retail platform Shopify (NYSE: SHOP) has jumped 110% since the beginning of this year, according to data provided by S&P Global Market Intelligence, after it expanded its relationship with Amazon.com (NASDAQ: AMZN) and posted two strong quarterly results.
Shopify kicked off its stellar year in January when investors pushed the company's share price up 18.5% on news that it's working closely to integrate its e-commerce platform with Amazon sellers. Shopify's director of product, Brandon Chu, said at the time, "Our work with Amazon is an important step in strengthening our robust multichannel commerce strategy and the ability of our merchants to sell anywhere their customers buy."
Image source: Getty Images.
Source: Fool.com
Amazon.com Inc. Stock
€171.44
0.290%
The stock is an absolute favorite of our community with 145 Buy predictions and no Sell predictions.
As a result the target price of 188 € shows a slightly positive potential of 9.66% compared to the current price of 171.44 € for Amazon.com Inc..
