Yes, Website Loading Speed is also the most important factor for ranking.
Google announced that if any website has not better website loading speed on mobile and desktop, then that website may not be considered at priority basis. Plus they also added this in the list of most important factors for Google ranking.
Fast loading sites have higher conversion rates and lower bounce rates. Your goal should be to be the fastest site in your niche. Be faster than your competitors. Having a site or an e-commerce platform that takes ages to load won't do you any good.