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Fly News Breaks for August 1, 2018
SHOP
Aug 1, 2018 | 07:03 EDT
Barclays analyst Deepak Mathivanan lowered his price target for Shopify to $145 following the company's Q2 results. Gross merchandise volume growth in the quarter decelerated by eight points to up 56%, Mathivanan tells investors in a post-earnings research note titled "Two Out Of Three On Key Metrics." Despite the post-earnings selloff, the stock's valuation is still at a significant premium to peer group, the analyst adds. He keeps an Equal Weight rating on Shopify.
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