Shopify Q3: Road To $137/Share, With Growing Market Share
Portfolio Pulse from
Shopify Inc.'s Q3 FY24 earnings report reveals a 26% YoY revenue growth, driven by strong GMV, increased Shopify Payments adoption, and expanding Shopify Plus subscription revenue. The stock has surged over 80% since July, with potential upside to $137 per share.

November 13, 2024 | 4:45 pm
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Shopify's Q3 FY24 earnings report shows significant growth with a 26% YoY revenue increase. The stock has risen over 80% since July, with analysts predicting further upside to $137 per share.
Shopify's strong Q3 earnings report, with a 26% YoY revenue growth, indicates robust business performance. The stock's 80% surge since July and potential further upside to $137 per share suggest positive market sentiment and investor confidence. Key growth drivers include enterprise and B2B merchant acquisition, offline channel expansion, international market penetration, and product innovation, all of which are likely to sustain the company's growth trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100