Corient IA LLC Adds 9,000 Shopify Inc. (SHOP) Shares

Shopify Inc. (NASDAQ:SHOP) is among the best stocks to buy now according to AI. According to the Form 13F filing with the SEC, Corient IA LLC has increased its position in Shopify Inc. (NASDAQ:SHOP) after the purchase of 9,000 shares. The company accounts for 0.6% of the firm’s portfolio.

Shopify Inc. (NASDAQ:SHOP) continues to deliver impressive revenue growth of more than 30%, alongside margin expansion, surpassing expectations, and capturing market share in key verticals. Despite strong financials, the company’s valuation seems quite high, and that’s what keeps some investors on the sidelines.

Shopify Inc. (SHOP) Is Just Crushing Everyone, Says Jim Cramer

Just recently, Saudi Arabia’s sovereign wealth fund offloaded stakes during the second quarter, and among them is Shopify Inc. (NASDAQ:SHOP). The biggest risk associated with the company is a potential decline in Merchant Solutions, a segment that contributes over 70% to the company’s revenue. The last card the company can play is to either engage in acquisitions of start-ups or boost its free cash flow margin.

Shopify Inc. (NASDAQ:SHOP) is a Canadian commerce technology company that offers tools to start, scale, and run a business. Incorporated in 2004, the core offerings of the company include the Shopify platform, Shopify Payments, Shop Campaigns, and advertising on the Shopify App Store.

While we acknowledge the potential of SHOP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SHOP and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.