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3 Reasons to Buy Shopify Inc (US) (SHOP) Stock

The software-as-a-service space has been popular among investors because growth within that sector is expected to be massive over the next decade. Cloud-based software services often operate on a subscription basis, meaning that there’s a recurring revenue stream that doesn’t eat up a lot of marketing dollars. Also, once a company has signed on to a particular cloud-based system, switching costs are high so it’s also easier to retain customers. E-commerce payments platform Shopify Inc (US) (NYSE:SHOP) embodies all of those positives and, as a relatively small company with huge growth potential, SHOP stock is a great addition to your portfolio.

Sure, Shopify stock is expensive, but the firm’s triple digit gains so far this year are nothing compared to the growth you can expect over the next few years as it grows exponentially.

Shopify’s e-commerce platform appeals to small and medium-sized businesses as a simple way to sell their goods and services online. The company offers merchants a one-stop shop in which they can easily manage and analyze their orders and payments but also keep tabs on inventory and interact with customers.

SHOP also makes it possible...