Why Shopify Stock Jumped 19.9% in May
Shares of Shopify (NYSE: SHOP) climbed 19.9% in May, according to data from S&P Global Market Intelligence. The e-commerce stock has posted fantastic performance this year, and it continued to climb last month thanks to strong first-quarter results, new product announcements, and momentum for the broader market.
Shopify published first-quarter results on May 6, delivering sales and earnings that came in well above the market's expectations. The company posted non-GAAP (adjusted) earnings per share of $0.19 on sales of $470 million, trouncing the average analyst estimate's call for a per-share loss of $0.18 on revenue of $443.11 million.
Source Fool.com