Short Term Rating on Shopify (SHOP)

Shopify (SHOP) : 12 analysts are covering Shopify (SHOP) and their average rating on the stock is 1.38, 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 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Shopify (SHOP) : The consensus price target for Shopify (SHOP) is $35.46 for the short term with a standard deviation of $2.16. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $40, however, the pessimist price target for the company is $32.

For the current week, the company shares have a recommendation consensus of Buy.


Shopify (NYSE:SHOP): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.00 and $31.95 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.49, notching a gain of 2.01% for the day. The total traded volume was 1,448,554 . The stock had closed at $31.85 on the previous day.

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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