WeCommerce (TSXV:WE) MCap Hits C$1 Bn; Stock Soars 100% Since Debut

2 min read | January 25, 2021 07:05 AM EST | By Kunal Sawhney

WeCommerce (TSXV:WE) MCap Hits C$1 Bn; Stock Soars 100% Since Debut

WeCommerce Holdings Ltd. (TSXV:WE)

Current Stock Price: C$ 29.50

The company deals in purchasing and managing digital products and Software-as-a-Service (SaaS) enterprises. Mainly, these firms design and build apps and themes that facilitate Shopify merchants.

The stock garnered 50 per cent growth year-to-date (YTD) and have nearly 36 million listed outstanding shares. At the end of market close on January 22, 2021, its market cap crossed C$ 1 billion.

Scrips of the Shopify’s partner has a return on equity of 14.16 per cent and a debt-to-equity of 1.18, as per the TMX site. Its earnings per share are C$ 0.04.

Image Source: Kalkine Media @2020

In the third-quarter earnings of 2020 (ended September 30), the e-commerce firm reported total revenues of approximately C$ 2.034 million, up 52.2 per cent year-over-year (YoY). Its Q3 2020 net income after tax soared 30.7 per cent YoY.

The latest quarter witnessed higher acceptance of ecommerce segments in the market and related increase in revenues.

WeCommerce’s Chief Executive Officer Chris Sparling stated that the third quarter results also comprised the first full quarter performance Foursixty, a content platform it acquired in June 2020.

Meanwhile, stocks of its decade-old partner Shopify (TSX: SHOP) is up 149 per cent in one year. The giant tech stock has increased marginally by 3 per cent YTD.

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