5 Best Short-Term Stocks To Buy Now

3. Shopify Inc. (NYSE:SHOP)

Number of Hedge Fund Holders: 66

One-year Return as of February 28: -41.09%

Shopify Inc. (NYSE:SHOP) is a commerce company offering a commerce platform across the globe. It is based in Ottawa, Canada.

On February 22, DA Davidson’s Gil Luria upgraded shares of Shopify Inc. (NYSE:SHOP) from Neutral to Buy.

Year-to-date, Shopify Inc. (NYSE:SHOP) shares have gained about 15.30%. Analysts foresee a further upside potential of 16.26% on the shares. The company has been on an upwards climb since 2013 when its revenue came in at $50.3 million. This is represented by its 2022 revenue of about $5.6 billion.

Our hedge fund data for the fourth quarter shows 66 funds long Shopify Inc. (NYSE:SHOP). Their total stake value was $2.6 billion.

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