CIBC Believes Shopify (SHOP) Still Has Room to Grow


Wall Street analyst has provided a review for the Technology company yesterday, but retained the same rating on the stock. Analyst Todd Coupland from CIBC reiterated a Buy rating on Shopify (TSX: SHOP)

Coupland has an average return of 53.4% when recommending Shopify.

According to TipRanks.com, Coupland is ranked #4375 out of 4840 analysts.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify.

Shopify’s market cap is currently C$23.54B and has a P/E ratio of 0. The company has a Price to Book ratio of 11.06.

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$224.78, close to its 52-week high of C$232.65.

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