Shopify Inc. Class A Subordinate Voting is under Algo Engine buy conditions.
The Q4 2024 results showed revenue growth of 31% year-over-year to $2.81 billion, which beat consensus. The company reported a net income of $1.29 billion compared to $657 million a year ago, and adjusted net income was $458 million compared to $337 million a year ago.
P/E of 92x makes this an expensive growth stock.
Shopify Inc. Class A Subordinate Voting revenue is expected to grow by 20% to $8.5 billion in 2024. Currently trading at 8.8x estimated sales, Shopify remains undervalued relative to its software and e-commerce peers with a similar growth profile.
We rate SHOP a buy within the $50 – $60 price range.
Q1 2024 revenue increased 23% to $1.9 billion compared to the prior year, which translates into year-over-year growth of 29% after adjusting for the sale of our logistics businesses
SHOP:NYS is added to our buy list with a stop loss of $72.64
Shopify Inc. Class A Subordinate Voting is a current holding in our US Technology Disruptors Trade Table. It has rallied 17.2% in 8 days!
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