Shopify (SHOP) Receives Analyst Rating

Shopify (SHOP) has an average broker rating of 1.5, which is interpreted as a Strong Buy, as rated by 13 equity analysts. Nonetheless, 8 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 3 other analysts advise a Buy. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Shopify (SHOP) : The highest short term price target forecast on Shopify (SHOP) is $48 and the lowest target price is $34. A total of 12 equity analysts are currently covering the company. The average price of all the analysts is $40.58 with a standard deviation of $4.1.


Also, Equity Analysts at the Brokerage Firm, KeyBanc, maintains their rating on the shares of Shopify (NYSE:SHOP). KeyBanc has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $43 per share from a prior target of $40. The rating by the firm was issued on August 22, 2016.

Shopify (NYSE:SHOP): After opening at $41.21, the stock dipped to an intraday low of $40.77 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $42.1 and the buying power remained strong till the end. The stock closed at $41.77 for the day, a gain of 2.13% for the day session. The total traded volume was 523,695. The stocks close on the previous trading day was $40.9.

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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