Market News

SHOP Posts Record Sales Through Black Friday Weekend

Shopify (NYSE: SHOP), the e-Commerce company announced on Monday that the Black Friday Cyber Monday weekend proved to be a record-setting one with sales of $7.5 billion. This was a 19% rise from SHOP’s Black Friday Cyber Monday weekend last year.

Globally, 52 million consumers worldwide, up 18% year-over-year purchased from independent brands through Shopify platform through the Black Friday weekend.

Analysts are cautiously optimistic about SHOP stock with a Moderate Buy consensus rating based on eight Buys and 10 Holds.

On average, shoppers spent $104.80 on a constant currency basis globally throughout the weekend.

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