Is It Too Late to Buy Shopify Stock Now?
(NYSE: SHOP) is up over 120% since the start of 2023, more than doubling the Nasdaq Composite's returns over that time frame. But the stock's impressive performance has left many prospective buyers concerned that the train may have officially left the station on this investment idea.
It's certainly tougher to justify purchasing Shopify stock at these more expensive valuations, but there might still be something compelling here for the right type of investor. Let's dive in and take a look.
The company's share price gains have been driven by a combination of strong fundamental performance and surging investor confidence. Revenue grew 24% year over year in the fourth quarter, and that figure was closer to 30% after adjusting for the impact of its divested logistics business. Free cash flow more than quadrupled from the prior-year period as the company moved into positive cash flow territory and charged closer to profitability.
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 30.28% compared to the current price of 57.57 € for Shopify Inc.
