|Bid||313.79 x 800|
|Ask||314.13 x 900|
|Day's Range||312.00 - 324.24|
|52 Week Range||117.64 - 338.94|
|Beta (3Y Monthly)||1.52|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 30, 2018 - May 4, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||261.83|
(Bloomberg) -- Canadian e-commerce giant Shopify Inc. seems to be doing everything right to fend off short sellers even as the stock enjoys a record run this year.The shares reached an all-time high in New York on June 20, after a 137% rally in 2019 that blew past Amazon.com Inc., the S&P 500 and S&P/TSX.It is only natural to do a second take when a rally is this strong. However, it seems the bulls are not too concerned. Short interest for the U.S.-listed shares touched a 52-week low of 1.96% of float on June 20, down from a high of 9.8% in October, according to data analytics firm IHS Markit Ltd. Even four downgrades in the last two months haven’t been enough to drag bears out of hibernation.The latest downgrade came from Roth Capital Partners analyst Darren Aftahi, who cut his rating on the stock to neutral from buy, citing valuation. However, even the downgrade had a bullish tone, as the analyst raised his price target on the Ottawa-based company to $300 from $275. “We remain positive on its underlying business prospects,” Aftahi said. However, at current valuation “all good news is priced in, and shares are priced to perfection,” he said.Meanwhile, Mackie Research Capital analyst Nikhil Thadani wrote in a note that given the year-to-date performance and lower short interest versus its peak, there could be some near-term pressure on the stock. However, this also could provide an “opportunistic entry points” for the investors.The shares fell as much as 4.5% on Monday.To contact the reporter on this story: Aoyon Ashraf in Toronto at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Jennifer Bissell-Linsk, Catherine LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shopify (SHOP) has launched a warehousing services unit through which it will handle product packaging and deliveries for its sellers. The move marks the diversification of its business and also opens up another battlefront with Amazon (AMZN).
High growth stocks like Shopify Inc (TSX:SHOP)(NYSE:SHOP) are outperforming, but a market downturn could end the party quickly. Should you sell your stocks and wait for a correction?
A look at three industries on the verge of explosive growth over the next decade including sports betting, a market that Stars Group Inc (TSX:TSGI)(NASDAQ:TSG) is hoping it can be successful in tapping into.
The Zacks Analyst Blog Highlights: Adobe, Charter Communications, HCA Healthcare, Micron and Shopify
The continued rise of Shopify Inc. (TSX:SHOP)(NYSE:SHOP) is hard to grasp. Buying at a very steep price could be risky if the momentum suddenly stops.
Shares in these three companies were soaring yesterday, including Charlotte's Web Holdings Inc (TSX:CWEB), up 9% on the day and more than 34% so far in this week's trading.
(Bloomberg) -- Canada’s Shopify Inc., an e-commerce company that went public four years ago, is now more valuable than Manulife Financial Corp. and Canadian Imperial Bank of Commerce -- two financial institutions that have been around for more than a century.Shopify eclipsed the financial heavyweights in market value on Wednesday after announcing plans to spend $1 billion setting up a network of fulfillment centers in the U.S. and upgrades to its tools merchants use to sell products.Shopify traded at C$438.24 a share at 1 p.m. in Toronto on Thursday, giving it a market value of C$48.8 billion ($36.9 billion) and making the 12th biggest publicly traded company in Canada. Manulife was at C$46.7 billion and CIBC at C$46.4 billion.The Ottawa-based company has surged 132% this year, the top-performer on the S&P/TSX and a bigger advance than any stock on the S&P 500.To contact the reporter on this story: Simran Jagdev in Toronto at email@example.comTo contact the editors responsible for this story: Jacqueline Thorpe at firstname.lastname@example.org, ;Jillian Ward at email@example.com, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A (SHOP) bull said it’s time to step back from the hot stock a bit—but investors don’t seem to care. Shopify stock (ticker: SHOP) was recently up 1.6% to $332.27. CIBC analyst Todd Coupland on Tuesday night maintained his $350 price target on the shares while downgrading them to Neutral from Outperform.
Tensions between Iran and the U.S. are ratcheting up. Here in Canada, investors should look to Hudson’s Bay Co. (TSX:HBC) and two other TSX companies on Thursday.
Shopify (SHOP) announced a distributed fulfillment network in the United States to expand merchant base. The company also introduced other merchant-friendly initiatives at Shopify Unite conference.
Shopify Inc. (TSX:SHOP)(NYSE:SHOP) is one of the leaders in the e-commerce sector, but could the tech firm benefit from the growth in the marijuana sector?
Shopify Inc (TSX:SHOP)(NYSE:SHOP) and other highly priced stocks are overdue for big corrections, and a change in policy in the U.S. could be enough to bring out the bears.
Square stock is down roughly 3.5% over the last three months as investors decide what's next for the once high-flying financial tech giant.
Today, Shopify Inc. (SHOP) (SHOP.TO), the leading multi-channel commerce platform, unveiled the latest in commerce technology at Shopify Unite, the annual conference that brings together the company’s global partner and developer community. “Shopify’s real power comes from the variety and strength of our ecosystem,” said Shopify CEO Tobi Lutke. Shopify’s innovations include a newly updated Shopify Plus platform for enterprise brands, more global capabilities, and for the first time, Shopify is expanding its offering with a fulfillment network that will allow merchants of all sizes to deliver their products fast and at a low cost.
(Bloomberg) -- Shopify Inc. plans to spend $1 billion to set up a network of fulfillment centers in the U.S. to help merchants using its e-commerce platform deliver products more quickly and cheaply, much the way Amazon.com Inc. does.“A large number of orders are lost in the final stages due to complex shipping costs,” Craig Miller, Shopify’s chief product officer, said at the company’s annual developer conference in Toronto. The service will use machine learning to predict demand and suggest closest fulfillment centers to merchants.The Ottawa-based company unveiled the plan, along with new features such as video and 3D modeling for products, the ability to edit orders and a better user interface. It also added 11 new language capabilities and rolled out a multi-currency payments system to all merchants. It’s planning a new point of sale system for later this year.Its shares jumped 5.1% to a record $319.83 at 2:38 p.m. in New York. It’s the top-performing stock in Canada this year after more than doubling. Shopify has also outperformed any stock in the S&P 500 over that time.Shopify, which processes millions of individual sales by hundreds of thousands of merchants every year, is joining the delivery race. Amazon took the lead in e-commerce by building its own delivery infrastructure with warehouses close to big cities across the U.S.As big retailers like Walmart Inc. and Target Corp. jumped into the game, Amazon responded with a next-day delivery pledge of millions of products.Shopify could potentially pool shipments from different online stores together, making shipping cheaper and more efficient. Storing products from different merchants in centralized warehouses would also bring down costs for sellers and buyers alike, and net Shopify another revenue stream.That could help the company mount a defense against Amazon, which lowers prices and encourages merchants to use its own warehouses and shipping tools.Shares in the online platform, which celebrity Kylie Jenner uses to sell cosmetics, have been rallying after reporting strong first quarter earnings, forecasts for second-quarter revenue that was above expectations and its first annual revenue above $1 billion in 2018.(Updates share price in fourth paragraph, background)\--With assistance from Gerrit De Vynck.To contact the reporters on this story: Simran Jagdev in Toronto at firstname.lastname@example.org;Paula Sambo in Toronto at email@example.comTo contact the editors responsible for this story: Jacqueline Thorpe at firstname.lastname@example.org;Jillian Ward at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.