Shopify Stock Is Dropping Like a Ton of Bricks. Is This an Opportunity to Buy on the Dip?
All eyes were on (NYSE: SHOP) last week as it reported its first-quarter earnings results. With the stock up over 120% in the lead-up to the earnings release, investors had high expectations, so its weak outlook was met with severe consequences. Shopify stock has plunged 24% since then.
Is this short-term dip a buying opportunity? Let's see how Shopify is doing and where it's likely headed.
Shopify is a global leader in e-commerce software, and its platform accounted for 28% of the U.S. market as of 2023. It has millions of customers that rely on it to operate their online businesses, and it has expanded in several important directions.
Source Fool.com
Shopify Inc Stock
€54.53
0.810%
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 positive potential of 37.54% for Shopify Inc compared to the current price of 54.53 €.
