Shopify Inc. (NYSE: SHOP) has been one of the hottest stocks on the market over the past year. The company’s share price has more than tripled since this time last year, and it doesn’t show any signs of slowing down. With Shopify’s strong financials and growing customer base, there’s no reason to think that the stock won’t continue to rise in the future.
Shopify is a leading e-commerce platform that enables businesses of all sizes to create an online store. The company offers a comprehensive solution that includes everything from website design and hosting to payment processing and order fulfilment. Shopify is trusted by over half a million businesses worldwide, and it is constantly expanding its reach.
One of the things that makes Shopify so attractive to investors is its strong financials. The company is consistently profitable, and its revenue and earnings have been growing rapidly.
In the most recent quarter, Shopify’s revenue increased by 47% year-over-year, and itsAdjusted EBITDA grew by 64%. This strong growth is being driven by a growing customer base and an increase in the average order value.
Shopify also has a very loyal customer base. Once a business starts using Shopify, they are unlikely to switch to another platform.
This loyalty is reflected in Shopify’s churn rate, which is one of the lowest in the industry. In the most recent quarter, Shopify’s churn rate was just 1.8%.
All of these factors suggest that Shopify stock will continue to go up in the future. The company is growing rapidly, it is highly profitable, and it has a loyal customer base. As long as these trends continue, there’s no reason to think that Shopify stock will anything other than continue to rise.
Will Shopify Stock Go Up?
Yes, there are numerous indicators that suggest Shopify stock will continue to go up in value.