752.00 +2.00 (0.27%)
Pre-market: 4:26AM EDT
|Bid||753.00 x 1200|
|Ask||0.00 x 1000|
|Day's range||685.00 - 757.00|
|52-week range||262.17 - 844.00|
|Beta (5Y monthly)||1.50|
|PE ratio (TTM)||N/A|
|Earnings date||30 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||512.55|
Shopify Inc. (NYSE:SHOP)(TSX:SHOP) ("Shopify" or the "Company"), a leading global commerce company, today announced the results from its Annual Meeting of Shareholders (the "Meeting") which took place today. All director nominees were re-elected to the Board of Directors and PricewaterhouseCoopers LLP was appointed as auditors as further described in the Company’s management information circular dated April 16, 2020 (the "Circular"). Shareholders approved the advisory resolution on the approach to executive compensation disclosed in the Circular.
Shopify's (NYSE: SHOP) platform allows its merchants to accept payments in bitcoin, Litecoin, Ethereum, and over 300 other types of cryptocurrencies. It recently expanded that reach by partnering with cryptocurrency payments processor CoinPayments, which helps merchants process 1,800 types of cryptocurrencies. Shopify claims the partnership will "make cryptocurrency transactions easier and more accessible while reducing transaction fees."
As COVID-19 continues to transform our economic reality, two megatrends are converging to create a once in a lifetime investment opportunity
Obviously, venture capital investors need incredibly high returns on their winners to make up for the early-stage companies that inevitably fail, as they typically take on more risk per investment than public market investors do. Ubiquiti then took the same business model and set its sites on enterprise hardware, including access points, switches, and routers.
Work may never be the same for many people across industries, even after the COVID-19 pandemic abates. Some experts believe that the coronavirus outbreak will cement remote work as a viable model for many companies that can feasibly pull it off.
SaaS companies Shopify (NYSE: SHOP) and Slack Technologies (NYSE: WORK) have both attracted a huge customer following and are investing heavily to grow, but the software offerings couldn't be more different. Shopify makes it easy to run e-commerce stores, and Slack is a messaging platform that is out to make email obsolete. Shopify's stock has been on a tear since its IPO and has likely made many shareholders millionaires.
Stocks were lower Thursday, giving back some gains that on Wednesday sent the S&P 500 to its highest level since early March. Investors eyed a number of mixed corporate earnings results and economic data releases, along with states’ ongoing reopening processes.
The global case count hit a new grim milestone Thursday, surpassing 5 million, as the World Health Organization said the virus is showing no signs of slowing down.
Ottawa-based Shopify, which briefly became Canada's most valuable company earlier this month, had more than 5,000 employees and contractors worldwide as of December. "As of today, Shopify is a digital by default,” Tobi Lutke, who is also the founder of Shopify, said in a tweet. "Office centricity is over.”
Often overlooked because of its larger and higher-growth peer Shopify, e-commerce enabler Wix.com (NASDAQ: WIX) had a great first quarter of 2020. As for the headline numbers, Wix's results were in line with management's expectations outlined at the beginning of 2020. Revenue grew 24% to $216 million, driven by a 17% increase in "Creative Subscriptions" (the basic cloud-based web designer platform) to $177 million, and a 72% increase in business solutions to $39.4 million.
On the surface, the social media giant has the most to gain from the launch of Shops, but appearances can be deceiving.
Today, Shopify Inc. (NYSE:SHOP)(TSX:SHOP), a leading global commerce company, announced new and updated products at Reunite, the company’s first virtual event that hosted members of Shopify’s global merchant community. Reunite, which was also open to Shopify partners and the public, covered the latest product news in areas like finance, retail, and shipping to showcase how Shopify is helping merchants future-proof their businesses amid COVID-19.
Up until now, Facebook (NASDAQ: FB) has been taking relative baby steps on the path toward e-commerce. Separately, Facebook Marketplace is more of a local classifieds listing service similar to Craigslist than a full-fledged e-commerce platform. This week, the company announced Facebook Shops, its most significant e-commerce play to date.
GEORGE TOWN, Cayman Islands , May 20, 2020 /CNW/ - CoinPayments, the world's leading cryptocurrency payments processor, today announced a new strategic partnership with Shopify (SHOP). The collaboration will bring CoinPayments' crypto payments processing platform to all Shopify merchants as both companies look to fuel wider adoption of payments in digital currencies. Under the terms of the partnership, CoinPayments will now be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions easier and more accessible while reducing transaction fees.
Shopify is rolling out new services for retailers and pushing into the grocery sector as the ecommerce upstart tries to cash in on the disruption caused by the coronavirus pandemic. While venerable US retailers J Crew and Neiman Marcus filed for bankruptcy earlier this month, Shopify beat forecasts with a 47 per cent jump in first-quarter revenues.
The Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) fell between 0.5% and 1.5%. Tech giant Facebook (NASDAQ: FB) became the latest company to make a bigger push into enabling e-commerce, launching a service it hopes will make it easier than ever for small businesses to move online. Facebook acknowledges the struggles that small businesses are going through right now, and that's the justification for its releasing its new Facebook Shops product.
One of the consequences of the COVID-19 pandemic has been the accelerated adoption of e-commerce by consumers. With stay-at-home orders and remote work becoming the new normal, even merchants that had long resisted the growing trend have been forced to transition to online sales. A company well-positioned to benefit from the trend is Shopify (NYSE: SHOP).
Several ongoing consumer trends were accelerated by the long hours spent at home. This presents an opportunity for savvy investors.
Wix.com Ltd. (WIX) first-quarter results reflect growing user and premium subscription base, and strong growth in online selling activity amid coronavirus crisis-induced Internet demand.
To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. Joey Solitro: It's been a very long time.