Is Shopify Stock a Buy Now? 3 Charts That Could Signal a Miraculous Rebound
(NYSE: SHOP) investors have been on a roller-coaster ride in 2023, but the broader trend points to more ups than downs going forward. Share prices this year are up nearly 90% through mid-November, trouncing the 34% rally in the Nasdaq Composite.
Wall Street is excited about a few positive trends for this software-as-a-service business. E-commerce sales are back on the upswing, for one. Shopify is selling more subscription services, too, and is greatly expanding its offerings. Profit margins could reach new highs in the coming years with help from the divestment of its costly logistics segment.
Charts can often illustrate these rebound stories more clearly, so let's look at three graphs that show the magnitude of Shopify's operating rebound heading into 2024.
Source Fool.com
Shopify Inc Stock
Our community is currently high on Shopify Inc with 5 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a positive potential of 35.6% for Shopify Inc compared to the current price of 55.31 €.
