Forget Shopify: 3 Internet Stocks to Buy Instead

There's a lot to like when it comes to (NYSE: SHOP). The e-commerce platform gives sellers of all sizes a fighting chance to stand out with their digital storefronts. It has returned to profitability on a reported basis, and it's generating gobs of free cash flow. Shopify is doing a great job of overcoming the bearish narratives, climbing a wall of worry that finds the stock more than doubling so far in 2023.

It's not perfect. The stock's valuation is rich with its $89 billion market cap, and top-line gains have slowed. Revenue growth decelerated sharply to 21% last year. It's on track to improve that pace to 25% before decelerating again to a 19% increase next year. You may want to explore some internet-fueled platforms that are earlier in their growth cycles.

Rover Group (NASDAQ: ROVR), Duolingo (NASDAQ: DUOL), and Eventbrite (NYSE: EB) are three smaller growth stocks hoping to make a difference with their own online platforms. Let's take a look at the three alternatives to Shopify with market caps between $700 million and $9 billion. It doesn't mean that all four stocks can't beat the market.

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Source Fool.com