In a report released today, Andrew Boone from JMP Securities maintained a Buy rating on Shopify (SHOP – Research Report), with a price target of $80.00. The company’s shares closed yesterday at $62.73.
According to TipRanks, Boone is a 4-star analyst with an average return of 5.9% and a 50.90% success rate. Boone covers the Communication Services sector, focusing on stocks such as Alphabet Class A, DoorDash, and Taboola.com.
In addition to JMP Securities, Shopify also received a Buy from William Blair’s Arjun Bhatia in a report issued yesterday. However, on the same day, Jefferies maintained a Hold rating on Shopify (NYSE: SHOP).
The company has a one-year high of $91.57 and a one-year low of $45.50. Currently, Shopify has an average volume of 8.85M.
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.
