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Shopify Expands E-Commerce Services
Shopify (NASDAQ: SHOP), the leading e-commerce software company in the U.S., is enhancing its platform with total commerce services and standalone products. As of now, Shopify holds 30% of the market share in the U.S., significantly ahead of its closest competitor, Wix, which has 23%. The company has reported a 32% year-over-year revenue increase in Q3, alongside a 25% rise in operating income.
Recently, Shopify has been investing in international markets while diversifying its revenue sources beyond payment processing. Currently, Shopify trades at a P/E ratio of 103 and a price-to-sales ratio of 17, with free cash flow up 20% and an 18% margin. Despite strong recent performance, the stock is perceived as expensive.
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