Shopify passed the magic $200 billion mark last week, in terms of market valuation.

However, the company’s adjusted earnings are expected to slip 7 per cent from the same period last year, with an estimated value of 98 cents a share.

This comes as Shopify’s revenue is forecast to break the $1 billion mark for the first time, with a jump of 47 per cent year-on-year. But this is a marked slowdown of 2020’s full-year growth of 86 per cent.

Bloomberg points out that Shopify has beaten Wall Street estimates every quarter since going public, and investors tend to be going for pandemic-proof stocks, such as Shopify.

“Though tougher comparisons compared with 2Q20 will make its growth rates look weaker, we believe the new-merchant additions could provide a good base for robust gains in 2022,” Anurag Rana, Bloomberg’s senior industry analyst, said.

“Shopify makes close to 90% of its revenue from North America and Europe, which are both highly vaccinated regions and are experiencing a strong economic recovery, including new employment.”