Shopify Executes for a Positive Fiscal 3Q; Maintaining Our $150 FVE
Shopify reported a durable fiscal third-quarter 2018, exceeding our revenue and guidance assumptions. We are maintaining our $150 per share fair value estimate and CAD 197 per share fair value estimate. Total revenue expanded nearly 58% year-over-year, Shopify’s gross merchandising volume grew 55% year over year, and the firm posted positive operating cash flow. We believe the global shift to eCommerce remains a long-term secular trend. Even as the firm faces competition, we continue to believe ...Shopify provides a cloud-based commerce platform designed for small and medium-sized businesses. Merchants use its software to run their business across all of their sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. Co. provides a platform for merchants to create an omni-channel experience that helps showcase the merchant's brand and grow its business. Co.'s platform provides merchants with a single view of their business and customers across all of their sales channels and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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