In a report released yesterday, Todd Coupland from CIBC maintained a Hold rating on Shopify (SHOP), with a price target of $600.00. The company’s shares closed last Monday at $531.25, close to its 52-week high of $593.89.
According to TipRanks.com, Coupland is a 3-star analyst with an average return of 2.2% and a 43.0% success rate. Coupland covers the Consumer Goods sector, focusing on stocks such as BlackBerry, Celestica, and Exfo.
Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $541.48, implying a -4.8% downside from current levels. In a report released yesterday, Credit Suisse also downgraded the stock to Hold with a $575.00 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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