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Fly News Breaks for September 10, 2019
SHOP
Sep 10, 2019 | 05:05 EDT
Piper Jaffray analyst Michael Olson believes Shopify's acquisition of 6 River is a positive for the company's ability to more rapidly scale its fulfillment network. Shopify management was likely weighing the balance between internally building out similar fulfillment solutions, but opted to buy versus build in order to accelerate the trajectory of its offering, Olson tells investors in a research note. The analyst keeps a Neutral rating on Shopify shares with a $320 price target based on valuation.
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