Is It Still Prudent to Invest in Shopify Stock?
Is It Still Prudent to Invest in Shopify Stock?
One of the biggest e-commerce stocks on the TSX, Shopify (TSX:SHOP) remains a top growth stock many investors are focused on. That's partly because the company's growth rate has re-accelerated of late, while its post-pandemic comps are now a thing of the past.
作为TSX上最大的电子商务股票之一，Shopify (TSX:SHOP) 仍然是许多投资者关注的顶级成长股。这部分是因为公司的增长率最近重新加速，而其疫情后的比较已成为过去。
The question moving forward is whether Shopify remains a growth stock investors still want to put fresh capital in, or if this is a company that's best avoided â particularly if a recession is ahead.
未来的问题是，Shopify 是否仍然是投资者想要注入新资本的成长股，还是最好避免这家公司，尤其是在衰退来临的时候。
Let's dive in.
让我们深入研究一下。
If we do get a recession, Shopify could see downside
如果我们确实经历了衰退，Shopify 可能会遭受下跌。
There are certainly risks with investing in a software-as-a-service company like Shopify right now. If you're one of the millions of investors that's worried about an impending recession (particularly as the yield curve steepens), this is a stock that could see significant downside.
当前投资软件即服务公司 Shopify 存在风险。如果你是数百万担心即将到来的衰退（特别是随着收益曲线的陡峭）的投资者之一，这是一家可能会遭受重大下跌的公司。
Earning the majority of its revenue via transaction fees on its platform, Shopify's growth rate is closely tied to e-commerce growth around the world. With a business that extends into 175 countries, there is some diversification there. And lower interest rates should help the company from a valuation standpoint. But any sort of protracted broad decline in e-commerce volumes is a risk to be considered.
Shopify 大部分的营业收入来自平台上的交易费用，增长率与全球电子商务的增长密切相关。公司业务覆盖175个国家，这里有一定的多样性。而较低的利率期货应该有助于从估值角度帮助公司。但任何种类的电子商务交易量长期大幅下降都是一个需要考虑的风险。
Growth has been strong thus far
到目前为止，Shopify 的增长一直很出色。
On the other side of the coin, Shopify's recent year-over-year growth rate in Q1 has impressed many in the market. While SHOP stock has seen some volatility of late, so long as these growth metrics remain in place, there's a solid case for upside from here.
另一方面，Shopify 在一季度的同比增长率最近给市场上许多人留下了深刻的印象。虽然 SHOP 股票最近有些波动，但只要这些增长指标保持不变，就有一个坚实的上涨理由。
The company reported 29% year-over-year revenue growth this past quarter, adjusted for the sale of its logistics business. This was driven by gross merchandise value (GMV) growth of 23% globally, and merchant solutions revenue growth of 20%.
公司报告称，在过去一季度，经过物流业务销售调整计算，其营业收入同比增长了29％。这是由全球23％的商品总价值（GMV）增长和20％的店铺解决方案营收增长推动的。
If these numbers persist, there's a strong case to be made that owning Shopify makes sense here.
如果这些数字持续，那么在这里拥有 Shopify 是有意义的。
So, is it a buy?
那么，它该不该买入？
It's my view that Shopify likely isn't a stock every investor should own. This company is certainly cyclically sensitive, and there are risks tied to a potential recession to take into account.
我认为 Shopify 可能不是每个投资者都应该持有的股票。这家公司肯定受周期性影响，而且与潜在衰退相关的风险要考虑在内。
On the other hand, the company has strong secular growth tailwinds that are hard to ignore. So, for those looking to load up a TFSA with a growth stock to buy, dollar cost averaging into this name may be the best course of action from here.
另一方面，这家公司有着强的长期增长势头，这是难以忽视的。因此，对于那些希望购买成长股的 TFSA 投资者，逐步取得这个名字可能是从这里开始的最佳选择。
The post Is It Still Prudent to Invest in Shopify Stock? appeared first on The Motley Fool Canada.
此文本来源于 Motley Fool Canada，版权归原作者所有，仅供参考，不构成投资建议。