According to The Fly, a Wall Street analyst has provided a review for the Technology company on October 26, but retained the same rating on the stock. Analyst Ronald Bookbinder remains bullish on Shopify (TSX: SHOP).
According to TipRanks.com, Bookbinder is ranked #226 out of 4873 analysts.
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Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of C$180, a 6.7% upside from current levels. In a report issued on October 18, Roth Capital also maintained a Buy rating on the stock.
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Based on Shopify’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$30.3 million. In comparison, last year the company had a GAAP net loss of C$11.76 million.
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.
The company’s shares closed on Monday at C$168.62.
