15:53:52 EDT Sat 18 May 2024
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or Name
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Shopify Inc
Symbol SHOP
Shares Issued 1,207,317,106
Close 2024-02-09 C$ 122.11
Market Cap C$ 147,425,491,814
Recent Sedar Documents

Globe says Shopify flirts with nose-bleed territory

2024-02-12 08:18 ET - In the News

The Globe and Mail reports in its Saturday edition that when Shopify releases its quarterly financial results Tuesday, investors will hope that the e-commerce player is performing as well as its share price. The Globe's David Berman writes that the stock has been rallying for over three months, with gains that put it in the same league as the Magnificent Seven -- those U.S. tech giants that are currently dominating investor attention. Since Oct. 27, when the broader stock market began to recover from rate-hiking weariness, Shopify has soared nearly 84 per cent. Mr. Berman wonders if Shopify is can break into the "magnificent" club. While Shopify is a pipsqueak compared with all members of the Magnificent Seven (the smallest of which, Tesla, has a market capitalization five times that of Shopify), the company is a world-recognized technology star. One other quality that Shopify has in common with the Magnificent Seven is that its elevated stock price is reflecting lofty expectations among investors. Some of the most bullish analysts have been raising their target prices, investors generally are not so keen. However, the strong rally over the past three months has driven the stock's valuation to extreme levels -- again.

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