Shopify Stock Plunged After Earnings. Should I Buy?
Shopify (NYSE: SHOP) stock plunged following its first-quarter earnings. While its 23% yearly revenue growth closely approximated its performance in past quarters, a forecast for lower Q2 revenue growth and a return to net losses appeared to spook investors.
Nonetheless, one can still argue that Shopify is expensive even after the pullback. This leaves investors to question whether this is a buying opportunity or whether they should hold or possibly sell some shares.
For the first quarter of 2024, Shopify reported $1.9 billion in revenue, 23% higher than the same quarter last year.
Source Fool.com
Shopify Inc Stock
€54.63
-0.260%
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 37.29% compared to the current price of 54.63 € for Shopify Inc.
