Shopify Hits a Post-Pandemic High: Time to Buy the Stock?
(NYSE: SHOP) investors are partying like it's early 2022. The e-commerce platform stock recently crossed $80 per share to set a new post-pandemic peak. Shopify's all-time high was $153 in late 2021, but shares dropped as low as $43 in the subsequent slump.
Still, the rally over the past year raises the risk that investors will pay too high of a price for Shopify if its sales and earnings trends disappoint. Let's take a closer look at the prospects for this volatile growth stock.
There's no mystery around why shares have jumped in recent months. Sure, the bigger picture involves a rallying Nasdaq Composite index that pushed many tech stocks higher in 2023. But Shopify has also done plenty to boost Wall Street's optimism about the business.
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.
