Shopify Just Made a Brilliant Move. Time to Buy the Stock?
Shopify (NYSE: SHOP) stock soared on its earnings report last week, but the big news wasn't the company's first-quarter results.
It was the company's decision to sell off Deliverr, the logistics company it acquired less than a year ago, and the rest of the Shopify Logistics division. Additionally, the company is selling Six River Systems, a logistics company known for its mobile robot, to grocery fulfillment company Ocado.
While the decision to sell Deliverr to Flexport may sound like a failure of its original plan to move deeper into logistics and fulfillment, selling to Flexport looks like a win-win. Shopify isn't folding its ambitions in logistics by any means. It's finding a strategic partner and moving the heavy expenses associated with logistics off its books.
Source Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 5 Buy predictions and 1 Sell predictions.
As a result the target price of 75 € shows a slightly positive potential of 10.47% compared to the current price of 67.89 € for Shopify Inc.
