2 Technology Stocks Preferred By Gigantic Asset Managers: Shopify

2- Shopify: The Digital Commerce Giant

Shopify's cloud-based software is designed to make trading easy. The platform allows users to manage both physical and digital retail locations from a single backend, as well as the Shopify dashboard, as well as multiple showcases. Shopify also offers many commercial sales solution services such as payment processing, shipping, order fulfillment, financing, and more. Shopify launched a boost in 2020 so that merchants can also sell on social media and e-commerce markets such as Pinterest, TikTok, Facebook Stores, and Walmart. Nothing statistically demonstrates Shopify's magnificent scale as new businesses make their first sales every 28 seconds through Shopify in 2020.

The company generates income in two different ways;

The first is that it charges subscription fees for platform access. The second; charges fees for commercial sales resolution services such as payment processing, financing, shipping, and order fulfillment. Last year, 680,000 new sellers were added to the Shopify platform. This is more than twice the number added in 2019. (The total figure was announced as 1.7 million.) This stands out as a 42 percent growth in subscription revenue, as well as an acceleration above the 38 percent growth in 2019. Additionally, strong adoption of services such as Shopify, Checkout, Shopify Finance, Shopify Shipping and Shopify Order Completion resulted in a 116 percent increase in merchandising solutions revenue last year. This also points to an acceleration well above the 54 percent growth in 2019.

Shopify's revenue reached $ 2.9 billion in 2020, up from $ 1.6 billion in 2019!

When we combine the company's impressive track record and performance with its potential future trajectory, it's no wonder companies like Blackrock and Vanguard add Shopify shares to their portfolios. In the future, more business will take place through digital channels and the company should continue to benefit from these channels. Additionally, if the company focuses on enhancing its international expansion and order fulfillment capabilities, the wind will continue to blow after. That's why we think that despite its market cap of $ 141 billion, Shopify still has plenty of room to grow.   Source: https://www.fool.com/ You may also be interested in: 2 Technology Stocks Preferred By Gigantic Asset Managers: Palantir