Can Shopify Re-Rate Higher After The Q3 2024 Earnings Outperformance Rally?

Shopify Inc. (NYSE: SHOP ) is now trading at a new 52-week high as the stock's rally continues on its blockbuster Q3 results. The company reported revenue growth of 26% y/y to $2.162 billion on gross merchandise volume ("GMV") of close to $70 billion. This farAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am ...