Can This Beaten-Down Growth Stock Outperform the "Magnificent Seven" Over the Next 5 Years?
The "Magnificent Seven" stocks seem to be getting all of the attention these days, and for good reason. As a group, these dominant businesses have seen their shares soar since the start of 2023. Investors appreciate their growth prospects and focus on tech innovation and disruption.
But that doesn't mean there aren't other places to shop around for businesses to invest in. Take a look at Shopify (NYSE: SHOP), which recently reported its 2023 fourth-quarter financial results. Investors didn't seem pleased with the numbers, sending shares down double digits on the news. They're now 55% below their all-time high.
Can this beaten-down e-commerce growth stock outperform the Magnificent Seven between now and 2029?
Source Fool.com
Shopify Inc Stock
€55.19
1.190%
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 35.89% compared to the current price of 55.19 € for Shopify Inc.
