Is It Too Late to Buy Shopify Stock?
's (NYSE: SHOP) stock price soared 24% on May 4 after the Canadian e-commerce services provider posted its first-quarter report. Its revenue rose 25% year over year to $1.51 billion and beat analysts' estimates by $70 million. Its adjusted net income dropped 52% to $12 million, or a $0.01 per share, but still cleared the consensus forecast by $0.05 per share.
Shopify's earnings beat suggested its business was finally recovering from its post-pandemic slowdown that had been exacerbated by inflation over the past year. But is it too late to buy the stock after its post-earnings pop?
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Source Fool.com
Shopify Inc Stock
€63.63
-1.430%
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 25.73% compared to the current price of 63.63 € for Shopify Inc.
