Is Shopify's Stock Overvalued?
One industry that experienced more pronounced growth during the height of the COVID-19 Pandemic is e-commerce. While Amazon represents the 800-pound gorilla in the space, other players such as Etsy and (NYSE: SHOP) have proven to be formidable challengers.
Shopify in particular is a company that I believe has more uphill challenges to conquer. When it comes to the company specifically, consider the fact that it spent billions acquiring assets to build out its logistics infrastructure, only to divest it after roughly one year of integration efforts.
Furthermore, from a more macro perspective, the Federal Reserve has consistently raised interest rates over the last year or so and has alluded that more rate hikes could be on the horizon. For this reason, it is legitimate for investors to be concerned about the overall strength of consumer-discretionary spending.
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 very positive potential of 50.36% compared to the current price of 49.88 € for Shopify Inc.
