Shopify (SHOP) Receives Price Target

Shopify (SHOP) : 12 Wall Street analysts covering Shopify (SHOP) believe that the average level the stock could reach for the short term is $40.58. The maximum price target given is $48 and the minimum target for short term is around $34, hence the standard deviation is calculated at $4.1.

Shopify (SHOP) : 13 analysts are covering Shopify (SHOP) and their average rating on the stock is 1.5, which is read as a Strong Buy. 8 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Shopify (SHOP) also receives 3 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, Brokerage firm KeyBanc maintains its rating on Shopify (NYSE:SHOP). As per the latest information, the brokerage house raises the price target to $43 per share from a prior target of $40. The shares have been rated Overweight. The rating by the firm was issued on August 22, 2016.

Shopify (NYSE:SHOP): The stock opened at $41.20 on Thursday but the bulls could not build on the opening and the stock topped out at $41.40 for the day. The stock traded down to $39.91 during the day, due to lack of any buying support eventually closed down at $40.67 with a loss of -1.67% for the day. The stock had closed at $41.36 on the previous day. The total traded volume was 971,502 shares.

Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Companys platform lets users to create their own online store. The Companys platform provides merchants to design, set up and manage their stores across multiple sales channels, including Web, mobile, social media, brick-and-mortar locations, and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products, customizing the design, accepting credit cards, and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion, electronics, sporting goods, furniture and food, among others. The Companys platform offers over 900 applications.

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