Here’s a sneak peek at the most recent Shopifreaks newsletter. Join today for all the latest Shopify news, apps, and happenings in a short e-mail each Monday.
? Stock News
Mon, Feb 1st – Open: $1,106.00 – Close: $1,144.93
Fri, Feb 5th – Open: $1,261.49 – Close: $1,287.75
Mon, Feb 8th – Open: $1,261.49
1) Brian Schwartz from Oppenheimer sticks to his hold rating for SHOP. Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $1244.32, a 12.5% upside from current levels.
2) SHOP is outperforming its peers since the start of the calendar year according to the Zacks Sector Rank which currently puts SHOP at a rank of #1 (Strong Buy).
3) Based on the recent activity of 468 insiders, corporate insider sentiment is negative on the stock meaning that in the past quarter there has been an increase of insiders selling their shares.
4) Elon Musk is becoming quite the market mover nowadays with his recent tweets on Shopify, Signal, Etsy, Gamestop, Dogecoin, and other assets. The share price of Shopify rose by 3.5% a couple weeks ago after his tweet.
5) REMINDER: Shopify plans to announce its Q4 2020 financials before markets open on Wed, Feb 17, 2021. Management will host a conference call to discuss results that morning at 8:30 a.m. EST which you can stream on their investor events portal. [Add to your Calendar.]
? Shopify News
1) Shopify pulled a “Free Kyle” t-shirt from being sold on BringAmmo.com. Proceeds from the shirt went towards Kyle Rittenhouse’s defense fund – the 18 year old who is accused of killing two people and injuring one other during the Black Lives Matter protests in Kenosha, Wisconsin, in August 2020. This is following Shopify’s removal of Trump stores in Jan 2021.
2) The e-commerce intelligence platform HiConversion introduced their new app Recommend, which is the first product discovery app to be powered by Amazon Personalize, an AWS capability that enables developers to build applications based on the same machine learning technology used by Amazon.com. Are you sure you want Amazon having access to that type of Shopify data guys?!?!
3) Pachama, which operates an international carbon offset marketplace that Shopify utilizes to purchase carbon offsets, has automated the purchase of credits through the use of API — which they feel gives them an advantage over competitors with similar API because of its ability to tap its own offset marketplace to provide credits. Having Shopify as a business partner certainly helps too.
4) Kwik Delivery, an African last-mile delivery platform, announced the launch of its new app for Shopify which will enable Nigeria-based Shopify merchants to utilize their last-mile delivery service.
? Shopify Apps
Last week Shopify added 50+ new apps to the Shopify App store. Here are a few that look promising.
1) Disable Mouse Right Click – Prevent visitors from being able to copy / paste, save images, and view source code on your site. Free.
2) Spendify – Gamify your shopping experience with spend tiers and quantity breaks. (ie: “Spend at least $30 more and save 20% on your entire order.”) Free – $99/mo.
3) Social Media Feeds – Display live social media feeds on your site from your profile updates or hashtags. Works with FB, IG, YouTube, Twitter, and more. Free – $29/mo.
4) Syften for Shops – Get notified when your site is mentioned on Reddit or Twitter. Free – $9.95/mo.
5) Background Music Player – Upload a media file that will be played in the background as customers shop. LOL is Myspace back??? Free.
6) Open a Pop Up Store – The app by Neyborly that lets you connect with local storefronts to create pop up stores for your merchandise. Percentage of sales.
7) Goodkind – Use video stories for in-store and post sale interactions with your customers who can view stories on branded landing pages made for each customer with embedded checkout. $50/mo.
8) Metrical Abandonment Survey – Capture feedback from abandoning shoppers with one click surveys understand why they’re leaving without making a purchase. Free.
9) #1 FontMan – Add unlimited Google fonts and custom fonts to your store with technicalcal knowledge required. Free.
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See you next Monday!
Paul E. Drecksler
PS: When does it rain money? Whenever there’s change in the weather.