3 Things About Shopify That Smart Investors Know
Investors were thrilled to hear that (NYSE: SHOP) is shaking up its business. The stock surged in the wake of its early May earnings announcement, which contained news of solid demand trends and a strategic shift.
Most Wall Street pros were focused on Shopify's decision to exit the logistics business in a move that will likely accelerate its return to profitability. But there are other attractive aspects to this growth stock that are less covered in the financial media. Let's take a look at a few standouts.
The main factor dragging Shopify's stock down since early 2022 has been slowing revenue growth. Sales volumes rose by 18% in the most recent quarter, compared to a 31% spike in late 2021.
Source Fool.com
Shopify Inc Stock
€49.88
-7.740%
Our community is currently high on Shopify Inc with 5 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a hugely positive potential of 50.36% for Shopify Inc compared to the current price of 49.88 €.
