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Shopify reported strong financial results for the fourth quarter of 2024, achieving nearly $300 billion in gross merchandise value (GMV) and $9 billion in revenue for the year. This marks a substantial increase, with GMV nearly 2.5 times and revenue three times higher than in 2020. The company has experienced six consecutive quarters of over 20% year-over-year GMV growth and revenue growth of 25% or better. Analysts noted that Shopify is on an $11.2 billion run rate, growing at an impressive 31%, the fastest growth rate seen in three years. Phillip Securities has downgraded its rating on Shopify to 'Accumulate' from 'Buy', while raising the price target to $140 from $105, citing strong cost discipline and pricing power as key factors in the company's growth.
$SHOP | ๐๐ก๐จ๐ฉ๐ข๐๐ฒ (SHOP): Phillip Securities ๐๐จ๐ฐ๐ง๐ ๐ซ๐๐๐๐ฌ ๐ญ๐จ ๐๐๐๐ฎ๐ฆ๐ฎ๐ฅ๐๐ญ๐ (from Buy), ๐๐ ๐ซ๐๐ข๐ฌ๐๐ ๐ญ๐จ $๐๐๐ (from $105). Strong cost discipline boosts PATMI +๐๐๐% vs. forecast, GMV & pricing power drive growth. https://t.co/jkHZ6Y9yb1
Holy cr*p Shopify. At an $11.2 Billion run rate, itโs growing at a stunning 31%.ย And itโs accelerating. In fact, itโs growing the fastest it has in 3 years. Itโs just stunning to see this sort of growth at this scale.ย 5 Interesting Learnings:
#Shopify 4Q24: #ECommerce Strength Shows No Signs of Slowing Key milestones of Shopifyโs 4Q24 results: sixth consecutive quarter of over +20% y/y GMV (gross merchandise value) and +25% or better revenue growth. Read More -> https://t.co/R3Wkip0HvG https://t.co/oiyqis4t3z
