As previously reported, Wedbush analyst Ygal Arounian downgraded Shopify to Neutral from Outperform on valuation, while raising his price target on the shares to $305 from $270. While the analyst continues to like Shopify's positioning, vision, and competitive moat as it builds a strong retail operating system for merchants, he believes shares appropriately reflect the opportunity ahead. Additionally, while Arounian views the announcements at Shopify Unite as further improving and differentiating the platform, the most impactful announcement, Shopify Fulfillment Network, is not expected to generate profits until 2023.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's... To see the rest of the story go to thefly.com. See Story Here