The best online retail stock to buy now is Shopify Inc. (NYSE: SHOP).
It’s already well-known on Wall Street as a multinational company with some of the best proprietary e-commerce software out there.
But many retail investors don’t know about it. And most online shoppers don’t even know their order is being fulfilled by Shopify when they buy something from their favorite small or medium sized business.
I think there’s still a tremendous opportunity for you to buy Shopify stock today and reap long term rewards.
Even if Shopify just grew to half the size of Amazon, that would represent a 447% return.
[finviz ticker = SHOP]I originally started covering SHOP when it was trading for $740 per share last year. And after much research, I slapped a $1,500 price target on the stock at the time.
Well, it reached that level in February.
And now the stock is trading at a relative discount – only $1,200 per share today.
I think now is the time to continue loading up on SHOP stock as online buying momentum should continue fueling this company for the foreseeable future.
My new price target for SHOP is $3,000 per share – representing a 150% gain from its current price.
If you can’t afford one whole share of SHOP, that’s ok. You should be able to buy fractional shares at your brokerage for no additional fee.
