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Shopify Inc.

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Shopify provides a multi-tenant, cloud-based, multi-channel commerce platform for SMBs . Increasing investments on product development, infrastructure and platform are likely to limit margin expansion in the near-term. Further, lack of significant presence in the Asia-Pacific market, which is the fastest growing retail eCommerce market, is a headwind for Shopify. Nonetheless, the company is benefiting from a diversified expanding merchant base. It continues to launch a number of merchant-friendly applications to meet the requirements of a dynamic retail environment, consequently bolstering its merchant base. Moreover, the company is benefiting from retail’s rapid transition to mobile and social sales channels. Shares of Shopify have outperformed the industry on a year-to-date basis. 

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