2 Things Putting Shopify Ahead of Its Rivals, According to Management. Time to Buy the Stock?
Concerns about the economy have led to many e-commerce stocks struggling this year. Shares of Shopify (NYSE: SHOP), Wayfair, and Etsy are all down more than 10% in just the past six months. Even the mighty Amazon has barely managed to stay in the green during that stretch.
Investors are fearing the worst about a possible economic slowdown next year. But Shopify's management thinks that the company is in a better position than many of its rivals.
On Aug. 7, the company released its results for the second quarter, ending June 30. Revenue totaling $2 billion for the period rose by 21% year over year. And when excluding the effects from the sale of its logistics business, that growth rate was even higher at 25%. For the current quarter, it still expects its revenue growth to be in the low to mid 20s percentages.
Source Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 5 Buy predictions and 1 Sell predictions.
As a result the target price of 75 € shows a slightly positive potential of 10.25% compared to the current price of 68.03 € for Shopify Inc.
