Shopify Might Get Out Relatively Unscathed from Trump Tariffs -- Market Talk

Dow Jones01-20

1331 GMT - Shopify's core business might be spared the worst of the effects of potential tariff impositions from the incoming U.S. president. In a National Bank of Canada report, Richard Tse says that they see some impact on gross merchandise volume and in turn merchant services revenue should the tariffs be fully imposed. Despite this, he thinks that "it's relatively less severe in the context of all the current impending growth vectors in front of Shopify." Shopify won't be pain-free from tariff impositions, with Tse pegging a 4.9% contraction to GMV, a $387 million decline in MS revenue, and an overall 3.6% hit to revenue in fiscal 2025. "We'd view any pullback from a tariff narrative as an opportunity to add a position(s) in the name," he adds. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

January 20, 2025 08:31 ET (13:31 GMT)

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