Shopify Stock Is Down 54% From Its Highs. Should You Buy It in 2024?
(NYSE: SHOP) stock gained 124% in 2023, but even at the current price, it remains 54% off of its all-time highs. The e-commerce superstar is reporting high growth and improving profitability. Is it too late to buy, or can it soar higher in 2024?
Shopify has carved out a wide niche as a leading business-to-business e-commerce platform. It only places fourth globally, but it has a strong lead in the U.S. market, with nearly a third of total market share.
Image source: Statista.
Source Fool.com
Shopify Inc Stock
€56.32
0.810%
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.
