Shopify is expanding its platform to offer total commerce services and single products, making it the largest company of its kind in the U.S. but facing tough global competition. The stock is expensive but has seen impressive growth, up 284% in the past three years. Shopify is a major player in the e-commerce market, competing against companies like Wix and Amazon domestically, and WooCommerce and SquareSpace internationally. The company has been growing profitably, with revenue up 32% year over year in the third quarter. Shopify is also facing competition from companies like PayPal and Square as it transitions into a total commerce company. The stock is up 32% this year but is considered expensive, with a high P/E ratio of 103 and a price-to-sales ratio of 17. Investors should carefully consider before investing in Shopify. The Motley Fool Stock Advisor team identified Shopify as a high-growth stock, but they have other recommendations for investors looking for potential monster returns. Their top 10 stock picks have historically outperformed the market significantly, offering investors a chance for substantial gains.

Read more at Nasdaq: What to Know Before Buying Shopify Stock