Is Shopify Stock a Buy Now?
Shopify's (NYSE: SHOP) stock price surged 17% on Thursday, Oct. 27, in response to its third-quarter earnings report. The e-commerce service provider's revenue rose 22% year over year to $1.37 billion and beat analysts' estimates by $30 million. Its adjusted net loss narrowed from $103 million to $30 million, or $0.02 per share, which cleared the consensus forecast by $0.05.
Is Shopify finally primed to bounce back after losing roughly three-quarters of its value this year? Let's review the company's main challenges, current growth rates, and valuations to see whether the stock is worth buying again.
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Source Fool.com
