‘Bang-up quarter across the board’: Experts react to Shopify’s Q3 earnings beat

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Shares of Shopify Inc. were up by more than 25 per cent in midday trading on Tuesday after the Canadian e-commerce giant posted earnings that beat expectations – and two analysts say the stock has more room to run.

Samad Samana, managing director of Jefferies talks about Shopify's third quarter earnings as its revenue shot up 26 per cent.

“If you think about e-commerce as a whole, closer to high-single-digits in the U.S., and if you think about Shopify, they just posted well north of 20 per cent growth, and I think what that tells you is they’re benefiting from the end market itself, but gaining more and more market share,” he said. “We saw the combination of a good healthy beat on revenue but also on profitability, and you saw that flow through into the fourth quarter,” he said, adding that Shopify was able to post the strong quarterly numbers even as the macroeconomic backdrop remains “shaky.

“If you go and want to set up your own e-commerce storefront, you can go and sign up for free on Shopify. They used to offer a trial period of something like 90 days, but they’ve shortened that down to 45 days, so that’s really helped them increase the velocity of onboarding new paying customers.”

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