Shopify Inc (US) (NYSE:SHOP) announced a new partnership to help small businesses access global markets. Shopify will be adding DHL Express as a new international carrier to Shopify Shipping, helping hundreds of thousands of U.S. small businesses increase sales around the globe through lower shipping rates. These rates enable small businesses to more easily compete with large companies and marketplaces, and were previously available only to enterprise customers.
“For smaller businesses and startups today, the potential field of customers is not just local – it’s global,” said Cristian Vera, VP of Sales for DHL Express Americas. “Those on the Shopify Shipping platform can now access the growing global marketplace and take their business to new heights by shipping their products to any of the 220 countries and territories we serve.”
Shopify Shipping simplifies commerce by enabling businesses to easily manage all aspects of their shipping and fulfillment directly within Shopify. DHL Express will now be natively integrated into the Shopify platform, joining existing partnerships with USPS and Canada Post, to minimize costs and simplify fulfillment workflows for busy entrepreneurs. Shopify businesses currently ship millions of packages a month, and more than 10% of those are sent internationally.
“This partnership with DHL Express lets small businesses ship like enterprise companies: with fast, premium delivery, lower rates and a global brand consumers trust and choose at checkout,” said Maia Benson, Global Head of Shipping for Shopify. “With Shopify’s massive scale, powering more than 500,000 businesses, we’re able to work with global shipping powerhouses to offer this premium solution to the small business owner.”
(Original Source – please add link)Shares of Shopify Inc. opened today at $96.07, up $0.46 or -0.48%. SHOP has a 1-year high of $123.94 and a 1-year low of $37.74. The stock’s 50-day moving average is $110.52 and its 200-day moving average is $93.96.
On the ratings front, SHOP stock has been the subject of a number of recent research reports. In a report issued on October 11, KeyBanc analyst Alyssa Johnson reiterated a Buy rating on SHOP, with a price target of $116, which implies an upside of 21% from current levels. Separately, on October 8, RBC’s Ross MacMillan reiterated a Hold rating on the stock and has a price target of $99.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alyssa Johnson and Ross MacMillan have a yearly average return of 4.5% and 21.7% respectively. Johnson has a success rate of 64% and is ranked #2448 out of 4692 analysts, while MacMillan has a success rate of 81% and is ranked #14.
Sentiment on the street is mostly bullish on SHOP stock. Out of 13 analysts who cover the stock, 8 suggest a Buy rating and 5 recommend to Hold the stock. The 12-month average price target assigned to the stock is $107.10, which represents a potential upside of 11% from where the stock is currently trading.
Shopify operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The company’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. The company focuses on merchant and subscription solutions.