Many tech stocks have fallen this year, but some, such as Shopify ( TSX:SHOP )( NYSE:SHOP ), have built stronger organizations during this volatile period since covid turned on online commerce. The e-commerce platform’s services continue to expand into offline payments and logistics, providing a massive growth ramp into the future. My investment thesis is very bullish on the Shopify opportunity, even though Shopify stock valuation isn’t the best after this big gain.
Blowout Figures
The key to Shopify’s Q3 2022 results was not the revenue beat but the company’s ability to grow revenues at a 22% clip. Shopify’s revenue increased to $1.37 billion, up from $391 million in the third quarter of 2019. During that time, the company experienced 52% annualized growth.
SHOP stock is now trading near its lows as the market’s valuation has normalized in the last year following Shopify’s insane valuation when it traded above $150. Surprisingly, the stock would likely trade higher if it weren’t for lack of profits, despite the limited losses providing the traditional playbook for growth investors.
The following are some new products that the company expects to drive future growth:
- Shopify Collabs – this product connects brands and creators to generate 50 million organic social impressions in two months.
- Shopify Markets – enables merchants to identify, set up, launch, optimize, and manage their international markets from a single storefront and has been used by over 175,000 merchants since its Q1 launch.
- Shopify Markets Pro &#...<br><br><a href="https://pressreach.com/trading-tips/shopify-stock-buy-on-weakness/" target="_blank">Click here to read the full article on PressReach.com</a>.</br></br>Subscribe to the PressReach RSS feeds:</br><ul><li><a href="https://pressreach.com/category/featured-news/feed" target="_blank">Featured News RSS feed</a></li><li><a href="https://pressreach.com/category/investing-news/feed" target="_blank">Investing News RSS feed</a></li><li><a href="https://pressreach.com/feed" target="_blank">Daily Press Releases RSS feed</a></li> <li><a href="https://pressreach.com/category/trading-tips/feed" target="_blank">Trading Tips RSS feed</a></li><li><a href="https://pressreach.com/category/investing-videos/feed" target="_blank">Investing Videos RSS feed</a></li></ul> <p>Follow PressReach on <a href="https://twitter.com/press_reach/" target="_blank">Twitter</a> <br>Follow PressReach on <a href="https://www.tiktok.com/@pressreach" target="_blank">TikTok</a> <br>Follow PressReach on <a href="https://www.instagram.com/press_reach/" target="_blank">Instagram</a> <br>Subscribe to us on <a href="https://www.youtube.com/channel/UCc-K2GhMVA1qvqLb9tpm2Zw" target="_blank">Youtube</a></p>