Shopify’s (SHOP) Black Friday-Cyber Monday sales reached $14.6B, with growth accelerating to an estimated 29% for Cyber Weekend/Monday, supporting the Q4 consensus outlook of 28% year over year, Raymond James tells investors in a research note. The firm says larger cart sizes and broader consumer participation helped drive results, but stronger holiday performance beyond BFCM will be needed to push GMV meaningfully above the $121B consensus. Raymond James has a Market Perform rating on the shares.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP:
- Shopify, Global-e appear on track for ‘healthy’ Q4, says Jefferies
- Despite Outage, Shopify Posts Record Thanksgiving Sales of $14.6 Billion
- Shopify Reports Record Sales During Black Friday Weekend
- Shopify reports merchants achieve $14.6B in Black Friday-Cyber Monday sales
- ARKB, HOOD, SHOP, WRD: Cathie Wood Expands Crypto and AI Bets, Trims Stakes in Roku and GitLab (GTLB) Stocks