Shopify Stock: Time to Sell?
Shares of (NYSE: SHOP) have skyrocketed recently. The stock is up about 90% year to date and more than 115% over the last year. Some shareholders of the e-commerce platform provider are likely sitting on big gains, so this begs the question: Is it time to take profits?
The growth stock's recent gains seem to be fueled by a combination of momentum in tech stocks and hype surrounding artificial intelligence (AI). As a result, this may be one of those times when it makes sense to sell into exuberance.
Not only is the valuation questionable, but the company's operating loss is moving in the wrong direction. With shares trading at about $66 as of this writing, the bull case is becoming too difficult to justify.
Source Fool.com
Shopify Inc Stock
€60.44
-4.370%
With 6 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
As a result the target price of 80 € shows a positive potential of 32.36% compared to the current price of 60.44 € for Shopify Inc.
