Shopify (NYSE: SHOP) simplifies e-commerce. The company’s platform makes it easy for merchants to build digital storefronts and manage everything from payment processing and inventory management to fulfillment and shipping solutions. Its suite of software tools is an incredible asset for businesses large and small, enabling them to participate in the digital economy.
Not surprisingly, the strong growth of e-commerce over the past few years has resulted in incredible gains for Shopify shareholders. Its share price has rocketed up by more than 950% in just three years. But if you haven’t added it to your portfolio yet, it’s not too late to do so profitably.
Here are four reasons why Shopify is still a great growth stock.