Shopify Inc

$39.00

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SKU: SHOP Category:

Description

Shopify reached our target price and the company delivered a blowout quarter after a significant jump in gross merchandise volume (GMV) and revenues crossing the $1 billion threshold for the first time. The company’s positioning at the e-commerce crossroads between companies looking to go online and consumers being forced into online shopping after the impact of the Covid-19 pandemic has resulted in a huge jump in revenues and GMV for Shopify. Its GMV of $42.2 billion, up from $30.1 billion in the prior year quarter was largely driven by the fashion industry with apparel and accessories brands having a premium positioning contributing heavily to the top-line. The company saw a staggering 70% rise in subscription dollars as more merchants joined the platform, taking their total merchant base to over 1.7 million. With the Delta variant cases surging and also, the increased momentum of the Shopify Plus offering, the company stands to benefit from a positive sentiment. We maintain our ‘Hold rating with a revised target price.

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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