Yesterday, an analyst has provided a rating update for the Technology company, Shopify (SHOP). Analyst Todd Coupland from CIBC reiterated a Buy rating, with a C$210 price target.
Coupland has an average return of 28.4% when recommending Shopify.
According to TipRanks.com, Coupland is ranked #4429 out of 5152 analysts.
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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Shopify with a C$217 average price target, a -5.5% downside from current levels. In a report released today, RBC Capital also upgraded the stock to Buy.
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Shopify’s market cap is currently C$24.86B and has a P/E ratio of 0. The company has a Price to Book ratio of 11.50.
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 Wednesday at C$229.59, close to its 52-week high of C$239.50.
