Shopify (SHOP) Receives a Rating Update from a Top Analyst


Oppenheimer analyst Koji Ikeda maintained a Hold rating on Shopify (SHOP) today. The company’s shares closed last Wednesday at $384.67.

According to TipRanks.com, Ikeda is a top 100 analyst with an average return of 28.5% and a 73.8% success rate. Ikeda covers the Technology sector, focusing on stocks such as Coupa Software, SPS Commerce, and Liveperson.

Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $522.12, representing a 29.6% upside. In a report issued on March 20, Loop Capital Markets also maintained a Hold rating on the stock with a $350.00 price target.

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The company has a one-year high of $593.90 and a one-year low of $190.39. Currently, Shopify has an average volume of 2.58M.

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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. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. It focuses on merchant and subscription solutions. The company was founded by Tobias Albin Lütke, Daniel Weinand and Scott Lake on September 28, 2004 and is headquartered in Ottawa, Canada.

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