If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.

Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.

Why You Should Pay Attention to Shopify (SHOP)

Ottawa, Canada-based Shopify Inc. provides a multi-tenant, cloud-based, multi-channel commerce platform that helps in starting, scaling, marketing, and running a business. Its platform and services are engineered for simplicity and reliability, while delivering a better shopping experience for customers everywhere.

Since being added to the Zacks Focus List on September 6, 2022 at $29.94 per share, shares of SHOP have increased 178.02% to $83.24.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.01 to $1.12. SHOP boasts an average earnings surprise of 31.2%.

Additionally, Shopify's earnings are expected to grow 51.4% for the current fiscal year.

Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like SHOP offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Shopify Inc. (SHOP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research