Shopify’s growth continues with its one-stop e-commerce platform for independent merchants, but its business is maturing and trading at premium valuations. While it made millionaires in the past decade, replicating those gains seems unlikely. Revenue grew 56% annually from 2014 to 2024, with accelerated growth during the pandemic.

In 2023 and 2024, Shopify’s GMV and GPV growth accelerated again after a slowdown in 2022. Its strategic shift to divest its logistics division in 2023 helped stabilize margins. Analysts forecast a 22% CAGR in revenue and 7% in EPS from 2024 to 2027, but the stock already trades at a premium valuation.

To achieve millionaire-making gains like in the past, Shopify’s stock would need to rise nearly 6,570%. Analysts believe its slower growth than the past decade makes that unlikely. Still, Shopify remains a way to profit from the long-term e-commerce market expansion. The Motley Fool’s Stock Advisor team excluded Shopify from the top 10 stocks, focusing on potential high returns.

Leo Sun has positions in Amazon and The Motley Fool has positions in and recommends Amazon, Nvidia, and Shopify. Shopify’s journey to make millionaires may be slowing down, but its position in the e-commerce market remains strong for potential long-term growth.

Read more at Yahoo Finance: Could Shopify Help You Become a Millionaire?