Fear of god

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ShayneChew
2022-12-14

Fear of god

Shopify Down 66% This Year; Is there Reason to Fear?

Story HighlightsShopify, whose shares have taken a hit this year along with most other e-commerce st

Shopify Down 66% This Year; Is there Reason to Fear?

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Is there Reason to Fear?","url":"https://stock-news.laohu8.com/highlight/detail?id=1103026107","media":"TipRanks","summary":"Story HighlightsShopify, whose shares have taken a hit this year along with most other e-commerce st","content":"<div>\n<p>Story HighlightsShopify, whose shares have taken a hit this year along with most other e-commerce stocks, may have a bull case brewing.Cloud-based e-commerce platform provider Shopify (TSE:SHOP) (NYSE...</p>\n\n<a href=\"https://www.tipranks.com/news/article/shopify-tseshop-down-66-this-year-is-it-a-reason-to-fear\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Shopify Down 66% This Year; Is there Reason to Fear?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Shares of Shopify are down around 66% this year, leading the Canadian stock market to be on track to end the year lower than it began. However, fear not – this might be a great opportunity to accumulate shares of the downtrodden stock.Shopify’s sell-off began in November last year, mostly as a result of events beyond Shopify’s control. Software stock valuations had gotten too high and would inevitably snap. Moreover, the first year of the pandemic boosted the growth of e-commerce businesses manifold as a result of lockdowns and social distancing rules.Once economies started to normalize across the globe, the watershed began to subside, resulting in tough comparisons. However, investors are highly driven by emotion and began selling off Shopify shares as soon as the difficult comparisons started to reflect in the company’s quarterly financials.Yet, Shopify is still the go-to e-commerce platform for small and medium-sized businesses and is even a significant threat to the market share of e-commerce giant Amazon (NASDAQ:AMZN). The decline could be a great buying opportunity for long-term gains, as the shares seem to be oversold at the current price.Recently, SMBC Nikko analyst Andrew Bauch reiterated a Buy rating on SHOP stock and raised the price target to $45 from $40, saying that the stock has the potential to pull up sales and margin simultaneously in 2023. He is particularly upbeat about the evolution of Shopify’s Payment strategy and believes it to be one of the best emerging opportunities for the company to thrive.Is Shopify a Buy, Sell, or Hold?Shopify has a Moderate Buy consensus rating on Wall Street, with an average price target of C$55.89.Bottom-LineA solid business model, popularity with SMBs, and upbeat demand trends strongly indicate that a recovery in shares may be on the horizon. When the macroeconomic backdrop improves, Shopify stands to be one of the biggest beneficiaries of the spike in demand. 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