Why Lerner Group's Vanessa Martinez Is 'Very Bullish' On Shopify
Shopify seems like an expensive stock, so it doesn't get thrown in with other value names, but its room for growth makes it a value stock, Martinez said.
She told CNBC that she has been "very bullish" on the stock for the past couple years, adding that Shopify is "a mini Amazon.com Inc (NASDAQ:AMZN)."
Martinez values the dedication that the company has for its small business owners, she told CNBC.
Shopify's Latest Earnings: Shopify reported first-quarter financial results on April 28. The company reported earnings of $2.01 per share, beating the Street estimate of 73 cents per share. It reported revenue of $988.65 million, which beat the estimate of $865.48 million.
“Our singular focus is on making entrepreneurship easier, and making it easier for entrepreneurs to succeed. Merchant sales growth on our platform accelerated in the first quarter as merchants leveraged our modern commerce technology, which helps them compete in any retail environment and engage directly with their customers wherever they are," said Harley Finkelstein, president of Shopify.
SHOP Price Action: Shopify traded as high as $1,499.75 and as low as $685 over a 52-week period. The stock is down 5.04% year-to-date.
Shopify shares were down 4.84% premarket Tuesday at $1,028.
Photo courtesy of Shopify.
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