Shopify (NYSE:SHOP)(TSE:SHOP) stock has gained about 28% in a month. Positive developments, including the continued moderation in the inflation rate since June and indications of a slowdown in the interest rate hikes, supported SHOP stock. While Shopify stock has bounced back from the lows, an uncertain economic environment could hurt the recovery process and limit the upside.  Is Shopify Stock a Buy, Sell, or Hold? Due to the uncertainty, Wall Street is cautiously optimistic about Shopify stock. Eight analysts have rated SHOP stock a Buy, and an equal number of analysts have Hold recommendations. Overall, it has a Moderate Buy consensus rating on TipRanks.
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