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SHOP

Shopify

$201.92

-3.3 (-1.61%)

, LYFT

Lyft

$72.15

2.43 (3.49%)

10:17
04/04/19
04/04
10:17
04/04/19
10:17

Shopify will trade to $100 in next 12 months, Citron Research predicts

Andrew Left's Citron Research predicted in a new research report that shares of Shopify (SHOP) will trade down to $100 in the next 12 months. The stock in morning trading is down 2%, or $3.63, to $201.49. Lyft's (LYFT) initial public offering puts Shopify's "stratospheric valuation into perspective," Citron writes in a report posted on its website. The firm, best known for its short selling, believes changes to competitive and regulatory landscape will "almost certainly" negative impact of growth of Shopify. Reference Link

SHOP

Shopify

$201.92

-3.3 (-1.61%)

LYFT

Lyft

$72.15

2.43 (3.49%)

SHOP Shopify
$201.92

-3.3 (-1.61%)

03/19/19
RBCM
03/19/19
NO CHANGE
RBCM
Outperform
Shopify could lose some future payments volume to Instagram, says RBC Capital
After Facebook's (FB) Instagram announced in a blog post that it is adding in-app checkout, RBC Capital analyst Ross MacMillan explained that he views the risk to Shopify (SHOP) being that native Instagram Checkout could take some gross payments volume share in the future, some of which would have been Shopify's. As it stands today, merchants can link Instagram as a channel to their Shopify platform and transactions occur through the Shopify checkout, which would generate payments volume and revenue, assuming that merchant uses Shopify Payments, said MacMillan. However, he added that he thinks volumes from Instagram purchases are "very small" today. MacMillan has an Outperform rating on Shopify shares.
03/19/19
JEFF
03/19/19
NO CHANGE
JEFF
Hold
Jefferies understands Shopify concerns following 'Checkout on Instagram'
Shares of Shopify traded down modestly today on the announcement of "Checkout on Instagram," a feature that will allow users to complete purchases without leaving the app, Jefferies analyst Samad Samana tells investors in a research note. Facebook's (FB) Instagram will charge merchants a selling fee and partner with PayPal (PYPL) for payment processing, the analyst points out. He understands the investor concerns since Shopify partners with Instagram. Samana, however, believes most merchants will continue to rely on their underlying e-commerce platform to complete most online transactions, manage their stores and inventory. Further, merchants succeeding on multiple channels could increase the likelihood of using a platform like Shopify to manage their business, the analyst contends. He points out, though, that if merchants choose to adopt "Checkout on Instagram", PayPal would provide the payment processing for the gross merchandise volume generated on Instagram rather than directing back to a merchant's Shopify store to process the transaction. This could be a headwind for Shopify's Payments revenue growth, says Samana. He keeps a Hold rating on the shares with a $175 price target. The stock closed the trading day down 2%, or $3.68, to $202.09.
03/19/19
BTIG
03/19/19
NO CHANGE
BTIG
Neutral
BTIG sees limited impact to Etsy from 'Checkout on Instagram'
Facebook's (FB) "Checkout on Instagram" announced today focuses on large sellers, which means it is not yet a competitor of Etsy (ETSY), BTIG analyst Marvin Fong tells investors in a research note titled "In Instagram, Sellers Could Soon Have a New Sales Channel, But We See Limited Impact to Etsy." However, Instagram mentions in its blog post that in the future it will work with Shopify-type (SHOP) platforms, indicating that it intends to reach into the small-to-medium size businesses, the analyst adds. He points out that BuzzFeed even identified Etsy as a future target of Checkout by name. Fong's quick analysis, which "pessimistically" assumes Instagram can convert 10% of an Etsy seller's Instagram followers, puts the impact to Etsy's volume at around 2%. The analyst estimates about 41% of large Etsy sellers are already able to integrate with Instagram. He also found that found that ~25% of large Etsy sellers have no Instagram presence. Fong keeps a Neutral rating on Etsy.
03/27/19
MACQ
03/27/19
NO CHANGE
Target $230
MACQ
Outperform
Shopify price target raised to $230 from $204 at Macquarie
Macquarie analyst Gus Papageorgiou raised his price target on Shopify (SHOP) to $230 and kept his Outperform rating as part of his broader research note on payment technology providers titled "Turning Millenials into Capitalists". The analyst believes that the company's mimicking of Wix.com (WIX) tactics should allow its international business to grow. Papageorgiou also expects wider adoption of Shopify's Capital, Payments, and Shipping services by merchants.
LYFT Lyft
$72.15

2.43 (3.49%)

04/02/19
GHSC
04/02/19
INITIATION
Target $42
GHSC
Sell
Seaport Global starts Lyft with Sell rating, $42 price target
Seaport Global analyst Michael Ward initiated coverage of Lyft with a Sell rating and $42 price target. The shares closed yesterday down 12%, or $9.28, to $69.01. In order to justify the stock's current market valuation, investors need to "take a big leap of faith" that the millennials and later generations will forego ownership of a car and opt instead for reliance on a ridesharing service, Ward tells investors in a research note. However, "despite the optics of vehicles being an underutilized asset," the analyst believes people will continue to own their own vehicles as primary transportation. The ridesharing market will continue to grow and Lyft will be a prime competitor, but the company's current valuation levels "reflect an overly optimistic view of consumer behavior in the U.S," says Ward.
04/02/19
WEDB
04/02/19
NO CHANGE
Target $80
WEDB
Neutral
Wedbush says 'too early to be overreactive' as Lyft shares drop below IPO price
Wedbush analyst Daniel Ives notes that "in a stunner," Lyft shares dropped below its IPO price of $72 in its second day of trading. The analyst believes this is a "major gut check time" for Lyft and the tech IPO world to see how this stock trades given it was the first one out of the box. While Ives is bullish on the long-term opportunity for Lyft with robust growth prospects as the #2 player in a $1T transportation as a service market and the future of mobility, his concerns remain the vague path to profitability and the current valuation with no true public comps. While shares are off from the highs, he thinks it is too early to be overreactive and believes investors will support shares and be patient with the heavy losses as long as the key growth drivers are present as the company delivers robust results over the coming quarters. The analyst reiterates a Neutral rating and a $80 price target on the shares.
04/02/19
CRSS
04/02/19
INITIATION
CRSS
Buy
Lyft initiated with a Buy at Cross Research
Cross Research analyst Steven Fox initiated Lyft with a Buy
04/02/19
04/02/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Lyft (LYFT) initiated with a Buy at Cross Research and a Sell at Seaport Global. 2. Dow Inc. (DOW) initiated with an Outperform at BMO Capital and Credit Suisse, an Overweight at Morgan Stanley, as well as a Buy at Deutsche Bank and BofA/Merrill. 3. Sonos (SONO) initiated with a Buy at DA Davidson. 4. Q2 Holdings (QTWO) initiated with an Outperform at William Blair. 5. Intuitive Surgical (ISRG) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SGEN

Seattle Genetics

$71.10

1.69 (2.43%)

21:00
04/25/19
04/25
21:00
04/25/19
21:00
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Seattle Genetics analyst commentary at Piper Jaffray »

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TCBK

TriCo Bancshares

$39.57

-0.47 (-1.17%)

20:35
04/25/19
04/25
20:35
04/25/19
20:35
Earnings
TriCo Bancshares reports Q1 EPS 74c, consensus 71c »

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XOM

Exxon Mobil

$82.25

0.51 (0.62%)

, CVX

Chevron

$117.93

-0.38 (-0.32%)

20:25
04/25/19
04/25
20:25
04/25/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

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XOM

Exxon Mobil

$82.25

0.51 (0.62%)

CVX

Chevron

$117.93

-0.38 (-0.32%)

CL

Colgate-Palmolive

$68.64

-0.2 (-0.29%)

ADM

Archer Daniels

$41.77

-0.99 (-2.32%)

WY

Weyerhaeuser

$26.27

-0.07 (-0.27%)

AAL

American Airlines

$33.36

-0.64 (-1.88%)

LEA

Lear

$146.64

-6.455 (-4.22%)

IPG

Interpublic Group

$22.28

-0.26 (-1.15%)

GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

AN

AutoNation

$39.43

0.91 (2.36%)

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ATRC

AtriCure

$28.19

0.21 (0.75%)

20:18
04/25/19
04/25
20:18
04/25/19
20:18
Recommendations
AtriCure analyst commentary at Piper Jaffray »

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NOW

ServiceNow

$260.95

18.54 (7.65%)

19:43
04/25/19
04/25
19:43
04/25/19
19:43
Recommendations
ServiceNow analyst commentary at Jefferies »

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GFI

Gold Fields

$3.74

0.08 (2.19%)

19:34
04/25/19
04/25
19:34
04/25/19
19:34
Upgrade
Gold Fields rating change at BMO Capital »

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

19:28
04/25/19
04/25
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19:28
Hot Stocks
Watchdog finds at least 78,000 reviews removed from Amazon »

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    Jun

EHTH

eHealth

$62.23

0.32 (0.52%)

, MAT

Mattel

$12.30

-0.25 (-1.99%)

19:02
04/25/19
04/25
19:02
04/25/19
19:02
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

EHTH

eHealth

$62.23

0.32 (0.52%)

MAT

Mattel

$12.30

-0.25 (-1.99%)

KNL

Knoll

$20.57

-0.22 (-1.06%)

GRUB

GrubHub

$69.83

0.53 (0.76%)

PRO

Pros Holdings

$45.06

-0.25 (-0.55%)

F

Ford

$9.41

-0.17 (-1.77%)

COF

Capital One

$88.09

0.3 (0.34%)

SFLY

Shutterfly

$42.30

-0.65 (-1.51%)

COLM

Columbia Sportswear

$104.45

-0.65 (-0.62%)

SWN

Southwestern Energy

$4.03

-0.13 (-3.13%)

DFS

Discover

$77.48

0.43 (0.56%)

LOGM

LogMeln

$84.32

0.085 (0.10%)

BABY

Natus Medical

$25.20

0.54 (2.19%)

AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

TMUS

T-Mobile

$72.68

-0.67 (-0.91%)

SBUX

Starbucks

$77.07

0.65 (0.85%)

ATEN

A10 Networks

$7.28

0.14 (1.96%)

PFPT

Proofpoint

$131.35

3.56 (2.79%)

FII

Federated Investors

$33.57

0.605 (1.84%)

INTC

Intel

$57.59

-1.13 (-1.92%)

BEAT

BioTelemetry

$59.26

0.52 (0.89%)

BGG

Briggs & Stratton

$13.61

-0.44 (-3.13%)

SKYW

SkyWest

$58.44

-1.31 (-2.19%)

SGEN

Seattle Genetics

$71.10

1.69 (2.43%)

VCRA

Vocera

$31.31

0.36 (1.16%)

ILMN

Illumina

$318.91

4.47 (1.42%)

INT

World Fuel Services

$31.15

0.1 (0.32%)

BMRN

BioMarin

$85.40

-0.06 (-0.07%)

MHK

Mohawk

$130.69

-3.46 (-2.58%)

03/08/13
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ATEN

A10 Networks

$7.28

0.14 (1.96%)

19:00
04/25/19
04/25
19:00
04/25/19
19:00
Earnings
A10 Networks sees Q2 EPS (8c) to 0c, two estimates 0c »

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ATEN

A10 Networks

$7.28

0.14 (1.96%)

18:59
04/25/19
04/25
18:59
04/25/19
18:59
Earnings
A10 Networks reports Q1 EPS (9c), two estimates (7c) »

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  • 25

    Apr

CNC

Centene

$50.20

0.04 (0.08%)

18:44
04/25/19
04/25
18:44
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18:44
Hot Stocks
Centene CEO: Most people are happy with their healthcare »

In an interview on…

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  • 09

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    Jul

APHA

Aphria

$7.64

-0.17 (-2.18%)

18:23
04/25/19
04/25
18:23
04/25/19
18:23
Hot Stocks
Green Growth Brands says offer for Aphria has expired »

Green Growth Brands…

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ALGN

Align Technology

$296.77

-0.35 (-0.12%)

18:21
04/25/19
04/25
18:21
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18:21
Hot Stocks
Align Technology CEO: We are enjoying good growth in North America »

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AAPL

Apple

$205.28

-1.82 (-0.88%)

18:21
04/25/19
04/25
18:21
04/25/19
18:21
Periodicals
Several veterans leave Apple's design team, WSJ reports »

Apple's design team…

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FB

Facebook

$193.23

10.59 (5.80%)

18:18
04/25/19
04/25
18:18
04/25/19
18:18
Hot Stocks
Canadian agency says probe shows Facebook broke privacy law »

Canada's Office of…

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NOV

National Oilwell

$26.44

-0.04 (-0.15%)

18:17
04/25/19
04/25
18:17
04/25/19
18:17
Earnings
National Oilwell reports Q1 EPS (20c), consensus (8c) »

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FB

Facebook

$193.23

10.59 (5.80%)

18:16
04/25/19
04/25
18:16
04/25/19
18:16
Hot Stocks
Ireland's DPC opens statutory inquiry into Facebook »

Ireland's Data…

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FB

Facebook

$193.23

10.59 (5.80%)

18:15
04/25/19
04/25
18:15
04/25/19
18:15
Hot Stocks
NY AG to investigate Facebook's collection of user email contact databases »

New York State Attorney…

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

18:09
04/25/19
04/25
18:09
04/25/19
18:09
Hot Stocks
Amazon.com says had 'a lot of good customer wins' in Q1 »

Says: Usage growth higher…

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FIBK

First Interstate

$41.94

-0.63 (-1.48%)

18:08
04/25/19
04/25
18:08
04/25/19
18:08
Earnings
First Interstate reports Q1 EPS 69c, consensus 72c »

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F

Ford

$9.41

-0.17 (-1.77%)

18:03
04/25/19
04/25
18:03
04/25/19
18:03
Hot Stocks
Breaking Hot Stocks news story on Ford »

Ford says improving…

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    Oct

PUB

People's Utah Bancorp

$28.02

0.09 (0.32%)

18:01
04/25/19
04/25
18:01
04/25/19
18:01
Earnings
People's Utah Bancorp reports Q1 EPS ,55c consensus 55c »

Reports Q1 NII $26.91M,…

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AEGN

Aegion

$19.44

-0.58 (-2.90%)

17:57
04/25/19
04/25
17:57
04/25/19
17:57
Hot Stocks
Aegion subsidiary awarded three contracts valued at $13M total »

Aegion announced that its…

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  • 02

    May

AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

17:55
04/25/19
04/25
17:55
04/25/19
17:55
Hot Stocks
Amazon.com says will spend $800M in Q2 to move to one-day Prime delivery »

Says: Need to build out…

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F

Ford

$9.41

-0.17 (-1.77%)

17:53
04/25/19
04/25
17:53
04/25/19
17:53
Hot Stocks
Ford CFO: Encouraged by progress made in China toward return to profitability »

Sees FY19 revenue growth,…

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Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.