1,029.97 0.00 (0.00%)
After hours: 5:05PM EDT
|Bid||1,030.12 x 1100|
|Ask||1,037.00 x 1000|
|Day's range||1,022.00 - 1,059.44|
|52-week range||282.08 - 1,059.44|
|Beta (5Y monthly)||1.59|
|PE ratio (TTM)||N/A|
|Earnings date||30 Jul 2020 - 03 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||782.24|
Shares of Shopify (NYSE: SHOP) gained 25.3% in June, according to data from S&P Global Market Intelligence. Walmart announced on June 15 that it would feature select Shopify stores on its third-party online retail marketplace -- a development that could have big implications for the competitive landscape in the e-commerce space. Walmart is investing to build its online retail business, and bringing products from Shopify stores on to its e-commerce platform could help both companies challenge Amazon.com's dominance in the space.
The Federal Reserve recently released the results of 2020 bank stress tests, and while no banks are in serious danger, some would see capital levels fall a bit too low for comfort in a prolonged and deep COVID-19 recession. As a result, the Fed issued a formula to govern bank dividends, and there's a real chance bank investors could see dividend cuts from some major financial institutions. In this episode of Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, discuss the news and what it could mean for bank investors.
Shares of Shopify (NYSE: SHOP) have jumped to all-time highs today, up by 5% as of 12:50 p.m. EDT, after getting a bullish initiation from Wall Street. Argus kicked off coverage of the e-commerce company with a buy rating alongside a $1,050 price target. Analyst Jim Kelleher notes that physical retailers have been struggling for years, and the COVID-19 pandemic has underscored the need for small and medium-sized businesses to expand their online presences and sales channels.
Chipotle (CMG) partners with Shopify Inc. (SHOP) to launch improved versions of e-commerce sites for its farmers.
The pandemic has hit the restaurant chain's suppliers hard, and it is doing something to help them.
In the latest trading session, Shopify (SHOP) closed at $922.42, marking a +1.36% move from the previous day.
Enter Nacelle, an LA-based startup in the burgeoning "headless" e-commerce space. Nacelle has raised about $4.8 million to date in fundings led by Index Ventures and Accomplice. Nacelle builds an easier path for e-commerce brands to embrace a headless structure.
(Bloomberg Opinion) -- The Silicon Valley innovation machine is the envy of the world. It’s where the most ambitious entrepreneurs go to start their world-changing companies. But President Donald Trump’s latest action to restrict immigration may needlessly risk the future of this key strategic asset. Perhaps, instead, we shouldn’t mess with something that is working.On Monday, Trump signed an executive order that freezes access to a number of work visas through year-end, including the H-1B visa for highly-skilled foreigners, which is primarily given to workers in the technology industry. The issuance of new green cards will also stay halted until the end of the year. The administration said the order would free up jobs for unemployed Americans, adding it would block about 500,000 people from entering the country this year.The move sparked an avalanche of criticism from technology companies. They said the measures will hurt their ability to recruit talent and have deeper negative ramifications for the economy. An Amazon.com Inc. spokesperson called the order “short-sighted,” adding it prevents “high skilled professionals from entering the country and contributing to America’s economic recovery, [putting] American’s global competitiveness at risk.” A Facebook Inc. representative said Trump is using the pandemic as justification for “limiting” immigration, which will make “our country’s recovery even more difficult.” And Microsoft Corp. President Brad Smith said on social media, “Now is not the time to cut our nation off from the world’s talent or create uncertainty and anxiety.” Big Tech is right. One of America’s biggest advantages is its thriving ecosystem of innovation and technical leadership surrounding its large technology companies and startups. It is fueled by pioneering immigrant engineers coming in from around the world. According to Bond Capital’s latest “Internet Trends” presentation, about 60% of the U.S.’s most highly valued technology companies were founded by first- or second-generation Americans. For example, Google parent Alphabet Inc., with its trillion-dollar market valuation, was started by Sergey Brin, a first-generation Russian immigrant. And Nvidia Corp. founder Jensen Huang immigrated from Taiwan. The government should consider the fact that employment isn’t a zero-sum game. If they block the entry of the next great immigrant founder, we could miss out on a potentially large amount of job creation as well.Already, companies outside the U.S. know this reality and are jockeying to take advantage. Shopify Inc. CEO Tobias Lutke, whose company is based in Canada, tweeted: “If this affects your plans, consider coming to Canada instead. Shopify is hiring all over the world and we have lots of experience helping with relocation.” A partner at a U.K.-based venture capital firm extolled the virtues of his country’s “global talent visa” program. So, suffice it to say, others are more than willing to scoop up the world’s talented immigrants.Sadly, Trump’s immigration policy changes may already have inflicted lasting damage on America’s technology industry future. Potential immigrants may now decide to go elsewhere amid the uncertainty brought on by the visa suspensions. Why risk uprooting your family and career if the rules can change on an executive order whim? Cloud software startup Databricks co-founder Reynold Xin says his company, which now employs 1,400 people, has four immigrant founders who moved to the U.S. to “work with the best minds in the world.” But the success story wouldn’t have happened in the U.S. if they started the company in 2020, he added.That’s a problem. If our country doesn’t attract the founders for the next Google or Databricks as the preeminent land of opportunity, it will only embolden the U.S.’s biggest rivals such as China and Europe. Barring the best and brightest from our shores for any time period is simply self-destructive behavior and will harm our competitiveness. It’s a silly risk to take. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tae Kim is a Bloomberg Opinion columnist covering technology. He previously covered technology for Barron's, following an earlier career as an equity analyst.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Shopify (SHOP) closed the most recent trading day at $911.34, moving +0.72% from the previous trading session.
(Bloomberg) -- Disgruntled customers don’t sit on hold anymore. They text and Zoom and Whatsapp and web chat and email, and they don’t want to wait 72 hours for a response. For MessageBird, the Dutch software company that helps clients make sense of the deluge, that’s meant a surge in sales and plans for an initial public offering.Robert Vis, MessageBird’s 36-year-old founder and chief executive officer, said there’s been a fundamental shift in the enterprise communications industry, away from the calls and emails that made up customer inquiries in the past to a proliferation of apps. It’s been driven by on-demand digital businesses, such as Uber Technologies Inc. and Airbnb Inc., and the growth of cloud-based tools such as those from Slack Inc. MessageBird is on track to grow by 50% to about 300 million euros ($337 million) this year, he said.“We’re working with bankers and my CFO has the directive to IPO in 12 months,” Vis said in an interview. “As a company ten years in, we should be able to IPO.” He added that there’s no specific timing for the potential share offering, or the company’s valuation, and the plans would remain under review.Few companies have been brave enough to try their luck on the stock market in an IPO since coronavirus lockdowns threatened economies around the world. European companies have raised about $5.8 billion in 2020 so far, down 35% from the same time last year, according to data compiled by Bloomberg. But some businesses have come out stronger.MessageBird’s listing would be following larger U.S. competitor Twilio Inc., which is now valued at about $30 billion four years after it listed with a $1.23 billion market value. Twilio’s share price has roughly doubled during the Covid-19 crisis due to a surge in demand for its products by companies depending on online services like WhatsApp and Zoom to resolve consumer complaints as stores sit vacant.‘Gold Rush’In an August report, Gartner analysts described the communications-platform-as-a-service market as “experiencing a gold rush.” MessageBird and Twilio let companies add a few lines of code to their app or website that allows customers to text, email or call-in their questions to support teams. When they work best, the tools are all but invisible to end users.MessageBird in addition makes sure that, no matter what platform they use, a business’s customer isn’t having to repeat security phrases or explain their inquiry to multiple support agents. It also works directly with mobile-phone carriers to help businesses equip themselves for sending two-factor authentication codes and one-time passwords to their users, among other functions.“It’s not as simple as just being on WhatsApp. That’s the easy part,” Vis said. “The hard part is how do you completely integrate it into your workflows and then shift over your very, very expensive legacy channels onto these messaging platforms?”On the agent side, integrations with products from Salesforce.com Inc. and Slack mean it’s possible for a business to acquire a new customer, answer questions and make sales without leaving MessageBird’s software. Moves by the likes of Facebook Inc., Alphabet Inc.’s Google, Apple Inc. and also Shopify Inc. to blend and expand their messaging and payment products only increases the market opportunity for companies like MessageBird, Vis said.Read more: Facebook’s Zuckerberg Recommits to Commerce With ‘Shops’‘Bootstrapped Founder’Vis founded the company in 2011 after he sold his micropayments business, Zaypay. Amsterdam-based MessageBird now has about 350 employees in 21 cities, and additional offices in Singapore, San Francisco, Sydney and Bogota.The company isn’t profitable, and expects losses to be in the “low single-digit millions” this year, but Vis said he’s been an “extremely careful, bootstrapped founder” and MessageBird’s consistent year-on-year growth was a more important measure of the company’s health.“We grew to 100 million euros with no outside funding and no outside investor whatsoever,” he said. Since then, MessageBird’s raised about $100 million from venture capital investors such as Atomico, Accel and Y-Combinator.Coming from the Netherlands gives MessageBird unique advantages against its bigger rivals, Vis says. “Here, you have to stay global from day one because we’re a small country. So our view has really been on the world, not just the Netherlands or Europe.”The company uses artificial intelligence to translate messages in different languages and lets people pay in their local currency, he said.“Everybody wants to live in a messaging-first world,” Vis said. “I think that’s the key. Messaging is just, by all stats, a more efficient way to communicate with a business for marketing, for sales, for support.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Sustainable investing is exploding in Canada as the coronavirus and an anti-racism movement highlight long-standing social inequalities.Net inflows into Canadian exchange-traded funds that track companies focusing on environmental, social and governance factors has surged to C$740 million ($544 million). That has already outstripped the C$200 million invested in 2018 and the C$142 million last year, excluding seed capital, according to TD Securities Inc. With 15 new ESG products launched in Canada this year, investors now have 38 ETFs focused on impact investing to choose from.“In a time where the conscious investor is experiencing and observing a great deal of social and economic change, funds that provide exposure to companies that are aware of the environmental, social, and governance impact of their businesses have increased in popularity,” said TD analyst Andres Rincon.Covid-19 has hit the weakest and lowest-paid the hardest, and investors are taking a closer look at how companies pay and treat workers, community engagement and support during the outbreak and whether corporations have been agile enough to rework their manufacturing facilities to make personal protection equipment.Global protests on systemic racism are also shining a light on the stark difference in companies’ diversity efforts. Both are bringing the ‘S’ in ESG investing front and center.“The pandemic has reinforced the importance of taking ESG into consideration when assessing corporate strategy, operational risks and competitive positioning,” said Bloomberg Intelligence analyst Adeline Diab during a live Bloomberg Q&A on ESG investing this week.Click here for a transcript on an ESG Investing Q&A via Bloomberg’s live blogAnd despite a rout at the end of the first quarter that saw global stock markets plunge on coronavirus concerns, ESG ETFs in Canada saw “great momentum in their asset-gathering potential,” signaling that investors are sticking to their bets on social and responsible investing, said Rincon.ESG flows worldwide have been mimicking gold, acting as a haven in times of market upheaval, Diab said during the Q&A. The vehicles may even increasingly be considered an alternative to low-volatility strategies in a market downturn, according to a report she published in April.“Although Covid-19 is not yet in the rear-view mirror, it is fair to say that the pandemic has further cemented a loyal base of investors in ESG ETFs and has increased the legitimacy of responsible investing,” Rincon said.Here’s what happened in Canada this week.Markets -- Just the NumbersChart of the WeekEconomyCanadian retail sales posted a historic drop in April, falling 26% during a full month of business closures and strict physical distancing measures, though sales rebounded in May based on preliminary data.Inflation moved further into negative territory as Canada’s retail stores began to reopen from the Covid-19 lockdowns with discounts to entice shoppers. The consumer price index fell 0.4% from the same month a year earlier. That compares with a 0.2% drop in AprilBank of Canada Governor Tiff Macklem said a full recovery is a long way off for the country’s economy, requiring interest rates to remain at historical lows indefinitely. Speaking in his first public appearance since taking the helm at the central bank on June 3, Macklem said the biggest risk to the country’s outlook is that the policy response would be too weak, unnecessarily prolonging the crisis.Canadian home sales saw a 57% increase in May from the prior month. Transactions for existing properties reached 26,111 in the month, still down 40% from a year earlier and at the lowest level for May since 1996.PoliticsPrime Minister Justin Trudeau has faced the perfect storm this week as Canada’s tension with China kicks up a notch.Chinese authorities have indicted two Canadians on spying allegations, pressing ahead with a case diplomatically entwined with U.S. efforts to extradite a top Huawei Technologies Co. executive from Canada.Canadian officials are also investigating after China said it discovered pests in shipments of hardwood and softwood. The move comes three weeks after a judge ruled that extradition proceedings may continue against Huawei’s chief financial officer Meng Wanzhou and is raising concerns the pest issue may be politically-motivated.(Updates to include weekly market moves.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Shopify Inc. shares have been on a tear of late, with the company seeing a boost from the pandemic amplifying demand for e-commerce, but shares still have further room to rally, according to RBC Capital Markets.The pandemic “has pulled forward e-commerce adoption” and expanded the company’s total addressable market, wrote analyst Mark Mahaney, who reiterated his outperform rating and raised his price target to a Street-high view of $1,000 from $825. Last month, Baird forecast “a shift of at least $200 billion in annual spend in the U.S. from offline to online channels” from the pandemic, which shut a number of brick-and-mortar stores.Shares of Spotify have gained more than 150% off a March low, and the new target implies additional upside of more than 20%. The stock rose as much as 6.4% to a record on Thursday, lifting its market valuation back above the $100 billion level first reached last month. In addition to positive demand trends, recent gains have also come after Shopify partnered with Walmart Inc. to expand Walmart’s third-party marketplace site.Mahaney wrote that Shopify’s so-called take rate on merchant solutions revenue can rise 30 to 40 basis points in the near-term, driven by increased payments adoption, as well as another 100 to 110 basis points over the long term. RBC added that Shopify can achieve operating margins in excess of 20% in the long run, and $25 billion in annual sales by 2028.RBC’s higher target is just the latest sign of growing optimism on Wall Street. Earlier this week, Piper Sandler upgraded its view on the shares, also citing a rosier view toward e-commerce trends.(Updates shares, adds market valuation in third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The Zacks Analyst Blog Highlights: Procter & Gamble, Eli Lilly, Thermo Fisher Scientific, Costco Wholesale and Shopify
The amount that U.S. shoppers spent online during the first two full months of the COVID-19 pandemic surpassed their online spending for the 2019 holiday shopping season.
Walmart (NYSE: WMT) and Shopify (NYSE: SHOP) are teaming up to give select Shopify sellers the ability to list items on Walmart.com. Walmart's online marketplace is growing quickly -- faster than the 74% overall growth in Walmart's overall e-commerce business last quarter -- but it still trails Amazon (NASDAQ: AMZN) by a wide margin. Adding top Shopify sellers could help sustain the rapid growth for Walmart, which is essential for turning its e-commerce operations profitable.
Walmart (WMT) joins forces with Shopify to strengthen its marketplace. It anticipates adding 1,200 Shopify sellers to its marketplace this year.
Just weeks after teaming up with Facebook to launch Facebook Shops, Shopify (NYSE: SHOP) has nabbed another titan of industry in its quest to take on Amazon (NASDAQ: AMZN) in e-commerce. The cloud-based e-commerce software maker is partnering with Walmart (NYSE: WMT) to help the world's largest retailer beef up its e-commerce marketplace. In an announcement, Walmart said that it would be adding 1,200 small-and-medium-sized Shopfiy sellers to its marketplace this year in order to expand selection and variety.
Canadian e-commerce specialist Shopify (NYSE: SHOP) keeps saying that it isn't trying to compete directly with Amazon.com (NASDAQ: AMZN), yet it continues to make moves that increasingly put the company on a collision course with The Everything Store -- including the recent launch of the Shop app, which helps users discover merchant stores on the Shopify platform. In a potentially game-changing deal announced earlier this week, Shopify said it is partnering with one of Amazon's biggest rivals: Walmart (NYSE: WMT). Walmart has been aggressively ramping up its e-commerce ambitions in recent years in an effort to chip away at Amazon's e-commerce market share while expanding its own.
Shopify (NYSE: SHOP) is on a roll. Just weeks after announcing a deal to help power the back-office needs of Facebook's (NASDAQ: FB) new Shops platform, the e-commerce management provider has now inked a deal with Walmart (NYSE: WMT). Merchants utilizing Shopify's platform can now integrate their businesses with Walmart Marketplace, a site catering to third parties looking to sell online.