Up 124% in 2023, Is Shopify Stock a Buy for 2024?

By Parkev Tatevosian, CFA – Jan 16, 2024 at 5:00AM

NYSE: SHOP

Shopify

Market Cap

$92B

Today's Change

(1.11%) $0.78

Current Price

$71.33

Price as of April 26, 2024, 4:00 p.m. ET

The e-commerce enabler made a substantial strategic mistake but managed to bounce back from the consequences.

Fool.com contributor Parkev Tatevosian evaluates Shopify (SHOP 1.11%) stock and answers if it has more room to run in 2024.

*Stock prices used were the afternoon prices of Jan. 12, 2024. The video was published on Jan. 14, 2024.

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy.

Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.