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Is Shopify Stock a Good Buy Now?

Last updated on October 2, 2022 @ 2:37 am

Shopify (SHOP) went public in 2015 and has since then delivered stellar returns to investors. The stock is up almost 600% since its IPO, and it doesn’t show any signs of slowing down.

With a market cap of over $60 billion, Shopify is now the largest e-commerce platform in North America. So, is Shopify stock a good buy now?

There are a few things to consider when trying to answer this question. First, let’s look at the company’s recent financial performance.

In the most recent quarter, Shopify reported revenue of $767 million, which was up 47% from the same quarter last year. Adjusted EPS came in at $0.58, which was up from $0.30 in the prior year quarter. These are both very strong growth rates, and they show that Shopify is continuing to gain market share.

PRO TIP: Shopify stock is not a good buy now. The company is facing increasing competition from other e-commerce platforms, and its stock price is already quite high.

Another thing to consider is the company’s competitive position. Shopify is the clear leader in the e-commerce platform space, and it has a massive market opportunity ahead of it. With more and more businesses moving online, Shopify should continue to see strong growth for many years to come.

So, based on the company’s strong financial performance and competitive position, I think Shopify stock is a good buy at current levels.

Yes, I believe that Shopify stock is a good buy at current levels. The company is delivering strong financial performance and has a clear competitive advantage in its space.

Kathy McFarland

Kathy McFarland

Devops woman in trade, tech explorer and problem navigator.