This E-Commerce Powerhouse Just Stuck a Pin in the Downturn
Let's be honest: Last year was a tough one to be in the e-commerce business. A trifecta of tough comps, high inflation, and rising interest rates created a perfect storm of slowing growth and lukewarm demand for nearly every digital retailer -- and their stocks.
Two of the most popular examples help provide context. Net sales for Amazon increased just 9% year over year, but back out the results of Amazon Web Services -- its cloud computing business -- and revenue climbed an even more tepid 6%. At the same time, e-commerce platform and services provider fared slightly better, with revenue that rose 21%.
Yet, what if I told you that a little-followed digital retailer grew its revenue by 49% last year -- and was profitable to boot? Plus, what if you learned that this company followed up that performance with an equally impressive start to 2023?
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 positive potential of 29.15% compared to the current price of 58.07 € for Shopify Inc.
