4 Metrics for Shopify Bulls and 1 for the Bears
Shares of e-commerce platform specialist (NYSE: SHOP) have had a good run recently. Helped by a strong earnings report, the stock is up more than 25% this month as of this writing. Further, this is on top of an already impressive year for the stock. In total, shares have risen 76% year to date.
With such a big move behind it, it's an excellent time to look closely at the stock and see what has been driving it higher and whether or not shares are attractive. To do this, we'll examine four metrics supporting the bull case for the stock and one that may leave some investors eyeing the growth stock more skeptically. Why four metrics for the bulls and only one for the bears? It turns out there's a lot to like about Shopify's recent execution. So, it's worth spending some extra time on what the company is doing well.
Shopify continues to grow at a rapid pace despite an uncertain macroeconomic environment. Its third-quarter revenue rose 25% year over year. Growth was driven by a combination of increasing merchandise and payment volume on its platform and strong growth in its subscription solutions revenue. Notably, its subscription solutions revenue was driven both by an increasing number of merchants joining its platform and price increases on some of its plans.
Source Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 75 € shows a positive potential of 35.6% compared to the current price of 55.31 € for Shopify Inc.
