Shopify Stock: Buy the Dip?
This month's pullback in market indexes, particularly in tech, has weighed heavily on the stock prices of some of tech's best performers this year. One of those stocks is e-commerce platform provider (NYSE: SHOP). Though shares are up about 55% year to date, they're notably down about 20% this month.
With the stock pulling back so substantially, some investors may be wondering if now is a good time to buy it. After all, the company reported better-than-expected second-quarter results earlier this month, featuring accelerating top-line growth.
To help investors consider whether they should buy shares today, here's a look at Shopify's second-quarter update and the stock's valuation.
Source Fool.com
Shopify Inc Stock
€55.92
1.320%
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 positive potential of 34.12% for Shopify Inc compared to the current price of 55.92 €.
