Shopify (SHOP): New Buy Recommendation for This Technology Giant


In a report released today, Mark Zgutowicz from Rosenblatt Securities reiterated a Buy rating on Shopify (SHOP), with a price target of $481.00. The company’s shares closed last Monday at $319.73.

According to TipRanks.com, Zgutowicz is a 4-star analyst with an average return of 9.4% and a 42.6% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Trade Desk Inc, and Pinterest Inc.

Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $362.67, a 14.4% upside from current levels. In a report issued on October 9, PI Financial also maintained a Buy rating on the stock with a C$492.00 price target.

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The company has a one-year high of $409.61 and a one-year low of $117.64. Currently, Shopify has an average volume of 2.37M.

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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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