Redburn Atlantic anticipates that Shopify's unique position in the expanding social e-commerce market will allow it to capitalize on an expected revenue growth from $3.5 billion in 2023 to $7.6 billion by 2026.
The brokerage's revised price target of $99 for Shopify not only reflects a potential 40% increase from its current share price of $72 but is also backed by forecasts of a 40% EBIT margin by 2026.
Social e-commerce, projected to grow at a 42% CAGR from 2023 to 2028, is expected to reach a substantial $350 billion market, further solidifying Shopify's competitive advantages.
Shopify's integrated tools and seamless experiences across major social platforms empower merchants to tap into impulsive consumer behavior, benefiting from the unique engagement mechanisms of platforms like TikTok and Instagram.
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