Shopify (SHOP) vs Nuvei (NVEI): Which can be a better TSX tech stock?

2 min read | March 10, 2022 11:09 PM AEDT | By Kajal Jain

Shopify (SHOP) vs Nuvei (NVEI): Which can be a better TSX tech stock? — Image source: © 2022 Kalkine Media Inc

Shopify Inc (TSX: SHOP)

Stocks of Shopify Inc shot up by roughly 14 per cent to close at C$ 754.10 on Wednesday.

Shopify saw its Q4 revenue surge 41 per cent year-over-year (YoY) to US$ 1.38 billion, thereby taking its full-year revenue to US$ 4.61 billion in 2021.

However, the e-commerce firm incurred a net loss of US$ 371.3 million in the latest quarter against a net income of US$ 123.9 million earned a year ago.

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Nuvei Corporation (TSX: NVEI)

Stocks of Nuvei galloped by almost 14 per cent on Wednesday, the day after the company announced its fourth quarter and year-end results for 2021. Nuvei scrip ballooned by nearly 20 per cent in the past 12 months.

The financial technology company noted a total volume hike of 127 per cent YoY to US$ 31.5 billion in the latest quarter. Its fourth-quarter revenue jumped 83 per cent YoY to US$ 211.9 million in Q4 FY2021. However, its net profit reduced to US$ 12.3 million in the latest quarter compared to US$ 22.6 million a year ago.

Nuvei <a class='font-weight-bold' style='border-bottom: 2px dashed;' aria-label='https://kalkinemedia.com/ca/companies/tsx-nvei' href='https://kalkinemedia.com/ca/companies/tsx-nvei'>(TSX:NVEI)</a> Q4 FY2021 results

Bottomline

Shopify increased its yearly net profit from US$ 319.5 million in 2020 to US$ 2.91 billion in 2021. Nuvei’s net profit also surged to US$ 210.7 million in fiscal year 2021 against a loss of US$ 103.7 million the year before.

Before making a decision, investors should cautiously evaluate the fundamentals and prospects of companies and accordingly put make their investment choice considering the market forces that could alter their stock performance.

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