Loop Capital Markets analyst Anthony Chukumba maintained a Hold rating on Shopify (SHOP – Research Report) today and set a price target of $68.00. The company’s shares closed yesterday at $62.73.
Chukumba covers the Consumer Cyclical sector, focusing on stocks such as Ulta Beauty, Dollar Tree, and Best Buy Co. According to TipRanks, Chukumba has an average return of 12.0% and a 66.53% success rate on recommended stocks.
In addition to Loop Capital Markets, Shopify also received a Hold from Barclays’s Trevor Young in a report issued today. However, on the same day, Citi maintained a Buy rating on Shopify (NYSE: SHOP).
SHOP market cap is currently $80.81B and has a P/E ratio of -359.07.
Based on the recent corporate insider activity of 164 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Shopify (SHOP) Company Description:
Founded in 2004, Canada-based Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops.
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