Can Shopify Stock Hit $100 Per Share?

As consumers increasingly turn to the internet for daily needs, the demand for digital services is skyrocketing. The e-commerce market is set to surpass $83.3 trillion by 2030, expanding at a compound annual growth rate of 18.9%, driven by rising internet access, increasing usage of smartphones, and advances like 4G and 5G.

Shopify Inc. (SHOP) is a top partner for online retailers, offering a range of essential services. While SHOP stock has dropped nearly 29% since setting YTD highs in February at $91.57, JPMorgan recently started coverage with an "Overweight" rating, calling the pullback an attractive entry point ahead of expected outperformance.