In a report released yesterday, Paul Treiber from RBC Capital maintained a Buy rating on Shopify (SHOP – Research Report), with a price target of $100.00. The company’s shares closed yesterday at $70.55.
Treiber covers the Technology sector, focusing on stocks such as Shopify, CGI Group, and Open Text. According to TipRanks, Treiber has an average return of 12.3% and a 63.86% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $82.07 average price target, which is a 16.33% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $85.00 price target.
SHOP market cap is currently $89.9B and has a P/E ratio of 774.11.
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.
Read More on SHOP:
- Netflix upgraded and downgraded: Wall Street’s top analyst calls
- Shopify upgraded to Overweight from Equal Weight at Morgan Stanley
- JMP Securities tech/software analysts hold analyst/industry conference call
- Shopify price target lowered to $80 from $90 at Loop Capital
- Needham technology analysts hold an analyst/industry conference call
