Rosenblatt Securities analyst Mark Zgutowicz reiterated a Buy rating on Shopify (SHOP) today and set a price target of $630.00. The company’s shares closed last Monday at $531.25, close to its 52-week high of $593.89.
According to TipRanks.com, Zgutowicz is a 5-star analyst with an average return of 20.7% and a 70.7% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Criteo SA, and Pinterest.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $535.69 average price target, representing a -5.8% downside. In a report issued on February 7, RBC Capital also maintained a Buy rating on the stock with a $400.00 price target.
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The company has a one-year high of $593.89 and a one-year low of $169.56. Currently, Shopify has an average volume of 1.99M.
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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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