10 Best Non-US Stocks to Buy According to Hedge Funds

​3. Shopify Inc. (NASDAQ:SHOP)

Market Capitalization: $213.63 billion

Number of Hedge Fund Holders: 91

​Shopify Inc. (NASDAQ:SHOP) is one of the Best Non-US Stocks to Buy According to Hedge Funds. On December 17, Wells Fargo reiterated a Buy rating on the stock and raised the price target from $125 to $198. Earlier on  December 15, UBS reiterated a Hold rating on Shopify Inc. (NASDAQ:SHOP) with a $165 price target.

Wells Fargo noted that they believe the company to be an “under-earning asset”, which has a strong potential to benefit from AI-driven changes in search and product discovery. The firm expects Shopify to capture significant “demand-generation economics” in an AI-powered world. Moreover, Wells Fargo forecasts revenue and adjusted operating income estimates more than 20% and 50% above consensus levels by 2028, respectively.

​On the other hand, despite a Neutral rating, UBS continues to expect strong growth potential for the company across four main growth pillars, including International, Enterprise, In-store POS, and B2B (EII&B). The firm believes that these pillars can help the company gain significant market share over the next decade. UBS expects Shopify Inc. (NASDAQ:SHOP) to achieve a CAGR growth of 15% to 21% in GMV, along with 15% to 20% gross profit growth till 2035. These projections are based on the firm’s analysis of Shopify’s four growth pillars.

​Shopify Inc. (NASDAQ:SHOP) is a Canadian multinational commerce and financial technology company that offers a platform for e-commerce and a range of financial tools for merchants. This allows the company to offer an all-in-one e-commerce platform to start, run, and grow a business.