Why Shopify Stock Just Exploded Higher
Shopify (NASDAQ: SHOP) stock soared 22% through 9:45 a.m. Wednesday after reporting stronger-than-expected Q2 sales this morning.
Instead of the $2.55 billion Wall Street was expecting, Shopify collected $2.68 billion in revenue in Q2, helped by strong "gross merchandise volume" (GMV) facilitated by its software -- $87.84 billion.
Image source: Getty Images.
Source Fool.com
Shopify Inc Stock
€135.12
1.340%
Currently there is a rather positive sentiment for Shopify Inc with 4 Buy predictions and 0 Sell predictions.
As a result the target price of 145 € shows a slightly positive potential of 7.31% compared to the current price of 135.12 € for Shopify Inc.
