Roth Capital analyst Darren Aftahi maintained a Buy rating on Shopify (NYSE: SHOP) today and set a price target of $180. The company’s shares closed yesterday at $137.37.
Aftahi noted:
“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.
Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $163.36.
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Based on Shopify’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $23.95 million. In comparison, last year the company had a GAAP net loss of $9.38 million.
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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.
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