Truist Financial Maintains a Hold on Shopify (SHOP)

Shopify Inc. (NASDAQ:SHOP) is one of the top high growth international stocks to buy right now. Truist Financial analyst Terry Tillman maintained a Hold rating on Shopify Inc. (NASDAQ:SHOP) on September 8, setting a $150 price target.

Shopify Inc. (NASDAQ:SHOP) announced financial results for the quarter ended June 30 on August 6, reporting a 31% revenue growth and a 16% free cash flow margin. The quarter marked the eighth consecutive quarter of double-digit free cash flow margins for the company.

Jeff Hoffmeister, Chief Financial Officer of Shopify Inc. (NASDAQ:SHOP), stated that the company delivered accelerating GMV and revenue growth rates in North America, Europe, and Asia Pacific, quarter over quarter, with Europe being a “particular source of strength” with GMV growing 42% on a constant currency basis.

Headquartered in Ottawa, Canada, Shopify Inc. (NASDAQ:SHOP) is a global commerce company that offers essential internet infrastructure for commerce, with its software allowing merchants to run their business across all of their sales channels. These include physical retail locations, web and mobile storefronts,  social media storefronts, and marketplaces.

While we acknowledge the potential of SHOP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.