According to The Fly, wall Street analyst has provided a review for the Technology company today, but retained the same rating on the stock. Analyst Darren Aftahi from Roth Capital reiterated a Buy rating on Shopify (TSX: SHOP)
Aftahi observed:
“We model for top-line growth of 50% y/y, although slowing on the margin as SHOP begins to face steepening comps across all revenue lines. However, we expect growth in to drive potential outperformance.”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 11.8% and a 53.1% success rate. Aftahi covers the Technology sector, focusing on stocks such as Digital Turbine Inc, The Meet Group Inc, and Mitek Systems Inc.
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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a C$180 average price target.
The company has a one-year high of C$232.65 and a one-year low of C$117.11. Currently, Shopify has an average volume of 265.4K.
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$178.89.
