SHOP - Why Shopify Stock Was Down This Week
2024-02-16 12:07:42 ET
Week to date, shares of Shopify (NYSE: SHOP) were down 9.6% as of 10:20 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence .
The stock fell following the e-commerce company's fourth-quarter business update. Revenue grew 24% year over year in the quarter, but Wall Street investors didn't like the company's outlook for higher operating expenses, which implies lower margins than expected.
The post-earnings dip could be a good buying opportunity, as the company's quarter was solid all around. If Shopify can continue to sustain a 20% or more top-line growth rate, shareholders should see a nice return on their investment in the years to come.
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Why Shopify Stock Was Down This Week