A Bull Market Could Be Here: 3 Reasons to Buy Shopify Stock
With stock indexes up sharply from their lows (yet still below their all-time highs), many investors believe the next bull market may have already started. Wall Street is excited by the diminishing prospects of a hard recession this year, and some growth stocks have responded by soaring through the first half of 2023.
(NYSE: SHOP) fits into that category. The e-commerce platform's stock has roughly doubled since early January, compared to a 35% spike in the Nasdaq Composite Index. But investors could still see long-term returns from buying this market-beating stock now. Let's take a look at a few reasons why.
Like all of its peers, Shopify endured a growth hangover in the second half of 2022. But demand trends have stabilized and appear to be on the upswing.
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 9.81% compared to the current price of 68.3 € for Shopify Inc.
