SHOP - 3 Reasons to Buy Shopify Stock Right Now
2024-02-21 05:38:00 ET
There were high expectations heading into Shopify 's (NYSE: SHOP) Q4 earnings update, and the e-commerce platform specialist didn't disappoint. In mid-February, the company announced accelerating sales growth for the core holiday shopping period as transaction volumes jumped. Its merchants are increasingly opting to pay for more of its widening range of services, too, which is boosting both the top and bottom lines.
Investors have responded positively to all this news. Shopify's stock is up nearly 90% in the past year, easily beating the 22% increase in the S&P 500 .
That higher premium might limit your returns from buying the stock today. However, there are some good reasons to remain optimistic about a Shopify investment. Let's take a closer look.
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3 Reasons to Buy Shopify Stock Right Now