From Nasdaq: 2024-11-14 08:33:00

1. Shopify (SHOP) shares surged 21% after beating Q3 expectations and providing a strong holiday forecast. The stock has a Zacks Rank #2 and belongs to the top-ranked Zacks Internet-Services industry and Computer and Technology sector. Average earnings surprise stands at 24.50% over the past four quarters.
2. Shopify reported Q3 2024 earnings of 36 cents per share, exceeding estimates by 33.33%. Revenues of $2.16 billion also beat expectations by 2.59%, with a 26.1% YoY increase. The company offers software for online merchants and services like advertising and payment tools, recently partnering with Roblox and YouTube.
3. For Q4 2024, Shopify expects revenue growth in the mid-to-high twenties percentage range YoY. GAAP operating expenses are pegged at 32% – 33% of revenues. Analysts project a 20.58% revenue growth YoY in Q4 and a 22.18% revenue growth YoY for 2024, with earnings expected to rise by 51.35%.
4. Consider ETFs like ARK Fintech Innovation ETF (ARKF), First Trust Dow Jones International Internet ETF (FDNI), Bitwise Web3 ETF (BWEB), Sterling Capital Focus Equity ETF (LCG), and Franklin Disruptive Commerce ETF (BUYZ) to indirectly invest in Shopify. These ETFs have significant exposure to the company and could benefit from its growth.
5. Stay informed with Zacks’ free Fund Newsletter for top news and analysis on ETFs. Download the latest recommendations from Zacks Investment Research for insights on potential investment opportunities in companies like Alphabet Inc. (GOOGL), PayPal Holdings, Inc. (PYPL), and Shopify Inc. (SHOP).

Read more at Nasdaq: Shopify Surges on Upbeat Q3: ETFs to Gain