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Shopify Inc. (SHOP) provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. 
The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital.
Shares broke out of their bullish "flag" yesterday and are expected to move higher. The flag was formed following the company's latest quarterly report. On November 2nd, SHOP reported earnings of $0.25 per share on revenue of $1.71 billion for the third quarter ended September 2023. The consensus earnings estimate was $0.14 per share on revenue of $1.67 billion. The company beat expectations by 56.25% while revenue grew 25.46% on a year-over-year basis.
Entry Point: $66.00
Stop Loss: $63.00
Trading Range: $32.35 to $71.43
Target Price: $72.50
