Omnichannel commerce platform provider Shopify (SHOP) delivered solid quarterly numbers. For the third quarter (Q3), the company reported strong growth in both revenue and Gross Merchandise Volume (GMV), surpassing Wall Street’s expectations. Adding to the optimism, Shopify provided upbeat guidance for the fourth quarter, forecasting higher-than-anticipated revenue.
The market responded enthusiastically, sending Shopify shares soaring over 21% on Nov. 12. However, after the stock's 81.9% return in the past six months, is Shopify stock still a buy, or has the recent rally left little room for additional upside?
