What's Behind Shopify's Surprising Strength?

(15min)

Summary

  • Shopify reported its Q2 2024 results last week and since then, the stock has jumped 38%.
  • We examine the results in detail.
  • The stock looks more or less reasonably valued right now.
  • Looking for more investing ideas like this one? Get them exclusively at Potential Multibaggers. Learn More »

Illuminated Shopify Logo In Berlin

Sean Gallup

Introduction

Last week, Shopify (NYSE:SHOP) (TSX:SHOP:CA) announced its Q2 2024 results and the market reacted very enthusiastically and the stock shot up 26%. Since then, the run kept going, and the stock is now up 38%.

Of

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        This article was written by

        33.65K Followers

        From Growth To Value (Kris) is an individual investor with a long-term perspective. He targets high-quality disruptive businesses that have early multibagger potential. His rigorous research process provides him and his readers conviction in these companies.

        He invests personally in the ideas he shares and leads the investing group Potential Multibaggers. Features of the service include: best buy list, access to his personal portfolio and watchlist, 5+ articles of individual stock coverage, weekly reviews, regular webinars, overall quality scores, and a vibrant chat for discussions. Learn more.

        Analyst’s Disclosure: I/we have a beneficial long position in the shares of SHOP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

        Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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