Is It Time to Buy the Dip in Shopify Stock?
Wall Street isn't as enamored with (NYSE: SHOP) stock these days. The e-commerce infrastructure specialist jumped over 100% last year, but shares are down 11% in 2024 while the S 500 is up by 8%.
That weak performance doesn't make much sense considering all the good news the company recently revealed about its operating trends. Let's take a closer look at whether that makes the stock a good buy right now, or if investors should wait for an even better price before purchasing shares.
Shopify is a leading e-commerce infrastructure provider, with services covering nearly all aspects of the selling process from marketing to payments processing. It helps merchants with in-person transactions as well through a convenient point-of-sale system. Millions of small businesses rely on the Shopify platform, in addition to large global brands like Nike Strength, Dollar Shave Club, and Billabong. Shopify handles roughly 10% of all e-commerce transactions in the United States.
Source Fool.com
Shopify Inc Stock
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 80 € shows a positive potential of 20.65% compared to the current price of 66.31 € for Shopify Inc.
