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Fly News Breaks for September 10, 2019
SHOP
Sep 10, 2019 | 05:08 EDT
While the financial impact of Shopify's 6 River Systems acquisition is minimal in the near-term, the deal accelerates the company's ambitions to build out a fulfillment network and expands the total addressable market, Jefferies analyst Samad Samana tells investors in a research note. In addition to the acquired technology, the analyst also views folding in 6 River's leadership as valuable to Shopify, noting two formerly served in leadership roles at Amazon. Samana keeps a Hold rating on Shopify with a $300 price target.
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