After crashing 75% in 2022, Shopify (NYSE: SHOP) stock is off to a hot start in 2023, rising by 90% so far this year. The company has been cutting costs and focusing more on its bottom line, which has encouraged investors, even though the business isn't exactly booming as sales growth has slowed.

Today, Shopify shares are trading near their 52-week high and may be looking a bit expensive to some investors. Can the stock build on its recent gains and go even higher, or is it too late join in on the rally?

One reason to be bullish about Shopify's future growth is the company's launch of new services that can help drive increased sales for merchants. This summer, Shopify is introducing Markets Pro in the U.S., with the U.K. launch coming later on. Markets Pro helps merchants sell internationally by handling tax remittances, duties, and import taxes -- many of the headaches that might otherwise lead to merchants to avoid doing business in other countries.

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Source Fool.com