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Shopify (SHOP) still stands as one of the best long term buys

Shopify Inc (SHOP) currently trades at $343.49 and has fallen by 11% today. Shopify is suspending financial guidance, in light of the uncertainty related to COVID-19. However, Shopify did note that it anticipates Q1 revenue and adj. op. income in line or above guidance provided on February 12, thanks to strong sales momentum through January and February.

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Based on this information, investorsQ rates this stock 5 out of 10. We give it this rating based on current information such as Shopify’s data on trends since March 8, the company is seeing brick-and-mortar businesses shifting to online, merchants are heavily discounting, and sales trends are changing based on evolving needs. The high forecast for Shopify Inc is $675.00 and the low is $330.00. Notably, the company’s market cap is $40.13 billion with a 52 week high of $593.89 and a 52 week low of $190.38.

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