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Shopify Stock Has Tumbled. It’s Still No Bargain, Analyst Warns.

With Shopify stock down nearly 80% so far this year, some investors might be tempted to bottom fish one of the leading providers of software used for e-commerce. But a quick turnaround in financial performance is unlikely, and one new analyst on the stock is urging investors to stay on the sidelines.

Shopify (ticker: SHOP) stock soared during the pandemic, as many businesses rushed to set-up online stores with most physical retail outlets shuttered. But the stock has reversed course this year, as the pace of e-commerce growth slowed, and earnings disappointed.

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