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Barchart
Barchart
Larry Ramer

Shopify Just Signed an AI Deal With Meta, but I Wouldn’t Rush to Buy SHOP Stock

SHOP Shopify Meta Google

Shopify's (SHOP) recent deal with Meta (META), along with SHOP's other AI-related initiatives, may cause the e-commerce giant's top-and-bottom-line growth to meaningfully accelerate over the long term. However, with the company's competitors also utilizing AI to boost their businesses, SHOP's market share may not rise a great deal.

Additionally, the valuation of SHOP stock is quite high and consequently already prices in some acceleration in the company's expansion. Finally, SHOP stock has, despite some good days the past month, not performed well in recent weeks, indicating that the Street does not have an especially favorable view of the shares at their current levels.

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