Where Will Shopify Stock Be in 1 Year?
Shopify's (NYSE: SHOP) stock price dropped 16% on Feb. 16 after it posted its fourth-quarter earnings report. The e-commerce services provider's revenue rose 26% year over year to $1.73 billion, which beat analysts' estimates by $80 million. Its adjusted net income fell 47% to $91 million, or $0.07 per share, but still topped the consensus forecast by nine cents.
For the full year, Shopify's revenue rose 21% to $5.60 billion, but its adjusted net income plummeted 94% to $48 million. That represented a significant slowdown from 2021, when its revenue and adjusted net income grew 57% and 66%, respectively. That's why investors weren't too impressed by Shopify's fourth-quarter earnings beat, and why its stock remains down more than 30% over the past 12 months. But could the company's prospects brighten by the end of 2023?
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Source Fool.com
