Down 65% From Its All-Time High, Is Shopify Stock Finally a Buy?
When it comes to e-commerce, most investors think of Amazon by default. However, there are a number of niche players, like Etsy and Pinterest, that have proven to be formidable players as well.
One company that has taken on Amazon directly is (NYSE: SHOP). Last year, Shopify acquired shipping and logistics start-up Deliverr. While the ambition garnered applause from Wall Street and retail investors, the execution was a different story. Earlier this year, Shopify divested Deliverr after realizing that taking on Amazon's logistics network might not be feasible.
Following these events, some investors questioned Shopify's vision and its brand identity. Nevertheless, the company doubled down on the areas that are working: subscription services and merchant solutions. After reporting third-quarter earnings, it's become increasingly clear that Shopify is at its best operating an e-commerce ecosystem, without the headaches of the logistics network. With the stock down over 60% from its all-time high, now is the time to take advantage and buy the dip.
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.
