Is Shopify Stock Too Expensive? Why It May Not Matter
Investors love (NYSE: SHOP) stock. The e-commerce platform's stock has more than doubled over the past year, and as inflation may be easing and e-commerce is growing, there's high investor confidence in the company's long-term prospects.
However, at the current price, Shopify stock trades at a rich valuation. Should that stop you from buying it right now?
Shopify operates an e-commerce platform for retailers. It's not a third-party platform like Amazon (NASDAQ: AMZN), but it provides white-label e-commerce solutions for business clients. Although its core products are turnkey retail websites, it has expanded to offering a range of products and solutions to businesses of all sizes. It has forged lucrative partnerships with enterprise customers who use some of its services, like payment gateways or point-of-sale devices.
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 35.6% compared to the current price of 55.31 € for Shopify Inc.
