RBC Capital analyst Mark Mahaney maintained a Buy rating on Shopify (SHOP) today and set a price target of $650.00. The company’s shares closed last Monday at $531.25, close to its 52-week high of $593.89.
According to TipRanks.com, Mahaney is a top 100 analyst with an average return of 18.5% and a 65.3% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Jumia Technologies AG, and Uber Technologies.
Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $522.05, which is a -8.2% downside from current levels. In a report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $600.00 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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