Shopify Stock Just Hit a $100 Billion Milestone: Should You Buy Right Now?
Wow, what a difference a year can make. After falling close to 90% from all-time highs, (NYSE: SHOP) has roared back with a vengeance since the start of 2023, with shares up over 120% since Jan. 1, 2023, as of this writing. That is around four times the return of the S 500 over that same time period.
Investors are heaping praise on the Canadian technology player, and for good reason. Shopify recently passed a numerical milestone, hitting a $100 billion market capitalization, one of approximately 150 companies worldwide to pass this financial threshold.
The e-commerce platform is firing on all cylinders as merchants adopt its payment solutions and it seamlessly implements price increases. Profit margins are inflecting higher, with operating margin surpassing 10% for the first time since 2021's last quarter.
Source Fool.com
Shopify Inc Stock
Our community is currently high on Shopify Inc with 4 Buy predictions and 0 Sell predictions.
With a target price of 75 € there is a slightly positive potential of 8.41% for Shopify Inc compared to the current price of 69.18 €.
