In a report issued on January 24, Deepak Mathivanan from Barclays maintained a Hold rating on Shopify (SHOP), with a price target of $420.00. The company’s shares closed last Monday at $465.48, close to its 52-week high of $476.79.
According to TipRanks.com, Mathivanan is a 5-star analyst with an average return of 17.9% and a 68.9% success rate. Mathivanan covers the Technology sector, focusing on stocks such as Activision Blizzard, Mercadolibre, and GrubHub.
Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $422.93, which is a -10.8% downside from current levels. In a report issued on January 9, Mizuho Securities also initiated coverage with a Hold rating on the stock with a $410.00 price target.
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The company has a one-year high of $476.79 and a one-year low of $154.52. Currently, Shopify has an average volume of 2M.
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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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