Shopify Stock Looking Good While Similar Stocks Down


Like many growth stocks, profits aren’t the focus at this stage of the game. That’s where revenues come into play.

Right now, Shopify is expected to grow sales 57% this year to $1.06 billion, making for its first billion-dollar year. That’s a fantastic achievement, and while growth is forecast to slow in 2019 to 39.5%, analysts are still looking for $1.48 billion in revenue then.

“For the most part, we’ve seen a flight to safety trade in many U.S. equities. We’re talking blue-chip stocks with dependable dividends and strong balance sheets, including aames like Johnson & Johnson (JNJ), Coca-Cola (KO) and Procter & Gamble (PG)”

In the event that the market is able to rally, Shopify stock price likely has upside back to downtrend resistance. However, I would not consider this growth stock to be a valid flight-to-safety trade should further weakness ensue, even though it has held up well over the past few weeks.



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