E-commerce platform Shopify (SHOP) joined the $1,000 per share club last week, symbolically reaching the landmark on Canada Day. The Ottawa-based company has delivered a strong performance in 2020, with shares up by a remarkable 159% year-to-date. Given this impressive rally, should investors reduce exposure to the e-commerce highflyer?No, is the succinct answer from Baird analyst Colin Sebastian.While the lofty valuation is “still the biggest investor pushback,” the 5-star analyst believes there still remains a large untapped TAM (total addressable market) that Shopify has yet to penetrate.Sebastian said, “Shopify has made our list of favorite stocks each year since initiating …read more
Source:: Yahoo Finance
