Is Shopify Stock a Buy Now?
(NYSE: SHOP) is about to answer a few burning questions for investors. The e-commerce platform specialist's stock has jumped in 2023 on hopes that last year's sell-off was overdone. The company has a huge potential runway ahead, after all, as it builds on its significant presence facilitating both online and offline commerce.
This bullish outlook will be tested when Shopify announces its first-quarter earnings results in a few days while updating its forecast for the 2023 year. Against that backdrop, let's look at why the stock might have more room to run from here.
Most Wall Street pros are looking for sales to rise by about 19% in the Q1 earnings report slated for May 4. This result would mark just a modest slowdown compared to the 26% spike that Shopify achieved in late 2022. Executives in mid-February cited economic pressures on the business that were largely offset by its widening portfolio of seller services. "Our platform and solutions enable merchants to stay ahead of the dynamically changing commerce landscape," Shopify President Harley Finkelstein said in a press release .
Source Fool.com
Shopify Inc Stock
We see a rather positive sentiment for Shopify Inc with 6 Buy predictions and 1 Sell predictions.
With a target price of 80 € there is a positive potential of 23.93% for Shopify Inc compared to the current price of 64.55 €.
