Its attach rate increased to 3.04% in Q1 from 2.79% in the prior-year quarter. What stood out was the improvement in its attach rate. The solid rally in its share price reflects that the tech giant is well positioned to capitalize on the ongoing digital shift.ĭespite a challenging macro backdrop, Shopify impressed with its first quarter (Q1) performance, reflecting strong GMV (gross merchandise volumes), higher revenues, and a growing merchant base. Its stock marked a stellar comeback in 2023, rising about 76% year to date. Shopify provides an omnichannel commerce platform to businesses of all sizes. Further, these companies are poised to benefit from the ongoing shift in selling models towards omnichannel platforms and increasing e-commerce penetration.Īs both Shopify and Lightspeed offer solid growth potential and are trading cheap on the valuation front, let’s understand which one could deliver higher returns over the next decade. The moderation in inflation and expectations of an easing monetary policy drove investors towards beaten-down shares from the tech space.ĭespite the recent recovery, Shopify ( TSX:SHOP) and Lightspeed ( TSX:LSPD) stock continue to trade at a discounted valuation from their historical average, providing a good entry point for long-term investors near the current price levels.īoth these Canadian stocks are backed by fundamentally strong businesses with the ability to consistently generate solid volumes and sales. Written by Sneha Nahata at The Motley Fool CanadaĪfter losing substantial value in 2022 and significantly underperforming the broader markets, technology stocks marked a recovery in the first half of 2023.
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