Why Shopify Stock Is Down Today
Already down for the year, the budding rebound effort (NASDAQ: SHOP) shares have been working on since the latter half of last month was dealt a blow today. As of 12:09 p.m. ET Tuesday, in fact, the e-commerce solution provider's stock is down 12.6% following this morning's release of its first-quarter results and second-quarter guidance.
Today's sell-off, however, may be a mistake as well as a buying opportunity.
Shopify turned $3.17 billion worth of revenue into a non-GAAP per-share profit of $0.36 for the three months ending in March, up 34% and 44% from the year-ago comparisons of $2.36 billion and $0.25 per share, respectively, topping analysts' expectations of $3.09 billion and $0.33 per share. Reported operating income also improved year over year, and by more than expected.
Source Fool.com
Shopify Inc Stock
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Shopify Inc stock is not clear.
As a result the target price of 119 € shows a positive potential of 25.18% compared to the current price of 95.06 € for Shopify Inc.
