In a report released yesterday, Kenneth Wong from Guggenheim maintained a Hold rating on Shopify (SHOP). The company’s shares closed last Tuesday at $1123.01.
According to TipRanks.com, Wong is a 4-star analyst with an average return of 23.7% and a 66.7% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Guidewire, and Zendesk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $1468.78 average price target, representing a 29.1% upside. In a report issued on April 5, Credit Suisse also initiated coverage with a Hold rating on the stock with a $1350.00 price target.
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Shopify’s market cap is currently $137.8B and has a P/E ratio of 432.60. The company has a Price to Book ratio of 24.46.
Based on the recent corporate insider activity of 428 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Founded in 2004, Canada-based 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.
