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Is Shopify's Stock a Buy Now?


Shopify Inc (NYSE: SHOP), a leading e-commerce company, delivered a solid second-quarter 2023 performance, with revenue increasing 31% year over year and cash flows turning from negative $87 million to a positive $97 million.

Despite reporting solid numbers, Shopify's stock price has since fallen 21% after the earnings announcement. Should investors take this opportunity to buy the stock?

Image source: Getty Images.

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Source Fool.com

Shopify Inc Stock

€47.41
-4.960%
Shopify Inc took a tumble today and lost -€2.475 (-4.960%).
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 hugely positive potential of 58.21% for Shopify Inc compared to the current price of 47.41 €.
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