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We do not really think so. Unless the stockprice falls back to about $800 to #900 (fair value see our TA chart of December 1st: here) it is overpriced at the moment. The recent gain is caused by windowdressing and fomo.
Shopify, Inc. is ranked as the fifth-best e-commerce stock to buy now on Insider monkey (article here). It is a cloud-based e-commerce platform for online stores and retail point-of-sale systems. During the third quarter of 2020, the company reported a revenue of $767.4 million, a 96% increase compared to the same period of 2019. But it has a total value of HF Holdings: $7.51 Billion
“Shopify (SHOP) : The currently fast growing, yet unprofitable e-commerce platform for retailers trades at a $120bln valuation on $1.6bln in 2019 revenues, a valuation of 75x sales for a company that ran -8% net margins. Assuming the business will run a normal 10% net margin and trade at a generous 25x P/E in 2030, revenue will need to grow by a factor of 80 times current levels for shareholders to earn a 10% IRR over the next 10 years.”“I’d say we wait …”