Could This Bull Market Buy Help You Become a Millionaire?
It isn't uncommon for stock owners to see some fantastic returns throughout their investing careers. That's especially true if you're targeting long holding periods that are measured in decades rather than quarters. Toss in strong annual sales and earnings growth, and you've got the essential ingredients you need to build a retirement portfolio that reaches into the seven figures.
Diversification is a key pillar in this process, but you could use some standout winners that deliver an outsize portion of your total positive returns. Could (NYSE: SHOP) play that role in your portfolio? Let's look at the e-commerce platform stock's long-term potential.
The main worry for prospective investors is that Shopify's biggest growth days are already behind it. Shares more than doubled in 2023, after all, with returns easily surpassing the 41% rally in the tech-heavy Nasdaq Composite Index.
Source Fool.com
Shopify Inc Stock
Currently there is a rather positive sentiment for Shopify Inc with 4 Buy predictions and 0 Sell predictions.
As a result the target price of 75 € shows a positive potential of 33.17% compared to the current price of 56.32 € for Shopify Inc.
