Shares of Shopify (NYSE: SHOP) have cratered 77.5% this year amid the broader market sell-off. Investors have been concerned about Shopify’s slowing growth rates and profitability, as well as its ability to navigate tough market conditions in the days ahead. However, Roth Capital Partners analyst Darren Aftahi continues to believe that SHOP’s topline results could very well meet expectations. Let us look at the reasoning behind the analyst’s expectation. The analyst recently did a channel check for SHOP where he surveyed merchants on SHOP throughout June and early July for second quarter trends.
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Shopify (NYSE:SHOP)
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Shopify (NYSE:SHOP)
Historical Stock Chart
From Nov 2021 to Nov 2022 Click Here for more Shopify Charts.