3 Reasons Shopify Stock is a Buy: Beyond the 21% Surge in a Month

Shopify (SHOP) shares have appreciated 21.1% in the past month, outperforming both the Zacks Computer & Technology sector and the Zacks Internet Services industry. Over the same timeframe, the sector and industry have gained 6.3% and 9.8%, respectively. The outperformance in SHOP’s shares can be attributed to the positive impact of the 50-basis-point rate cut by the U.S. Federal Reserve in September. The higher-than-expected cut is expected to have aided the small and medium businesses, which form Shopify’s ...