From Nasdaq: 2024-07-26 11:23:00

1. Shopify (SHOP) shares have dropped 10.4% in the last month and 23.7% year to date, underperforming the S&P 500. The e-commerce growth rate is expected to normalize, leading to recent share price decline.

2. Shopify anticipates high teens revenue growth in Q2 2024, with revenues expected to grow in the low to mid-twenties. Q2 2024 revenue consensus is $2 billion with 18.32% year-over-year growth.

3. Shopify is thriving due to its strong merchant base and expanding partner collaborations, offering advanced tools for merchants and integrations like Shop Pay Installments.

4. The value of SHOP stock is considered high, trading at a premium compared to the industry average. Despite that, long-term growth prospects remain promising.

5. Shopify is focusing on international expansion and developing innovative solutions for e-commerce merchants, despite its stretched valuation.

6. Shopify is rated a Zacks Rank #1 (Strong Buy) with a Growth Score of A, indicating a solid investment opportunity for those willing to overlook the premium valuation.



Read more at Nasdaq: Shopify (SHOP) Loses 10% in a Month: Should You Buy the Dip?