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.
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.