Shopify Gains 21.5% in a Month: How Should You Play SHOP Stock?
SHOPShopify(SHOP) ZACKS·2024-08-23 01:10

Shopify (SHOP) shares have returned 21.5% in the past month, outperforming both the Zacks Computer & Technology sector and the Zacks Internet Services industry. Over the same timeframe, the sector and industry have lost 1.2% and 6.4%, respectively. The outperformance can be attributed to Shopify’s robust second-quarter 2024 results that primarily benefited from an expanding merchant and partner base.Total revenues jumped 20.7% year over year to $2.05 billion, which beat the Zacks Consensus Estimate by 2.03% ...