Shopify has benefited tremendously from the fact that the coronavirus pandemic has triggered an online shopping boom. But is Shopify stock a buy right now?
Shopify was founded a decade ago. It is a platform to sell goods as well as grow their brand. In 2020, merchant solutions revenue grew %, , while subscription revenue grew 41%. Shopify estimates that it now has a 9% share of the US e-commerce retail market.
Analysts call the company a structural winner of the pandemic boom in e-commerce. Fourteen analysts have a “buy” rating on SHOP stock, thirteen have a “hold” rating and one has a “sell” rating, according to Zacks. Goldman Sachs forecasts that global e-commerce will grow by 19% %.annually over the next three years, up from a previous estimate of %. %.
