SHOP - Is It Time to Buy the Dip in Shopify Stock?
2024-04-16 04:30:00 ET
Wall Street isn't as enamored with Shopify (NYSE: SHOP) stock these days. The e-commerce infrastructure specialist jumped over 100% last year, but shares are down 11% in 2024 while the S&P 500 is up by 8%.
That weak performance doesn't make much sense considering all the good news the company recently revealed about its operating trends. Let's take a closer look at whether that makes the stock a good buy right now, or if investors should wait for an even better price before purchasing shares.
Shopify is a leading e-commerce infrastructure provider, with services covering nearly all aspects of the selling process from marketing to payments processing. It helps merchants with in-person transactions as well through a convenient point-of-sale system. Millions of small businesses rely on the Shopify platform, in addition to large global brands like Nike Strength, Dollar Shave Club, and Billabong . Shopify handles roughly 10% of all e-commerce transactions in the United States.
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Is It Time to Buy the Dip in Shopify Stock?