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SHOP

Shopify

$258.79

-1.88 (-0.72%)

07:24
05/13/19
05/13
07:24
05/13/19
07:24

Shopify downgraded to Neutral at Guggenheim with valuation above prior peak

As previously reported, Guggenheim analyst Ken Wong downgraded Shopify to Neutral from Buy as he sees upside potential as limited given the stock's current valuation, which he notes has now passed previous peak levels. While he still sees Shopify as a disruptive force within retail, Wong believes bullish investors are already factoring in revenue beats in FY19 and FY20 that are consistent with the company's historical outperform to consensus, he tells investors.

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SHOP Shopify
$258.79

-1.88 (-0.72%)

05/01/19
WEDB
05/01/19
NO CHANGE
Target $270
WEDB
Outperform
Shopify price target raised to $270 from $250 at Wedbush
Wedbush analyst Ygal Arounian raised his price target for Shopify to $270 from $250 as Q1 results highlight that the company continues to improve its market position strength across the board both on its core platform and Shopify Plus as well as domestically and internationally. The analyst reiterates an Outperform rating on the shares.
05/01/19
WELS
05/01/19
NO CHANGE
Target $275
WELS
Outperform
Shopify price target raised to $275 from $195 at Wells Fargo
Wells Fargo analyst Timothy Willi raised his price target for Shopify to $275 from $195 after the reported better than expected revenue/EPS, driven by international expansion, strong GMV growth and the delayed timing of ad spend during the quarter. The analyst also notes that Shopify is in the early stages of growth within its international markets, where it continues to invest in functionality and marketing. He reiterates an Outperform rating on the shares.
05/01/19
FBCO
05/01/19
NO CHANGE
Target $275
FBCO
Outperform
Shopify price target raised to $275 from $190 at Credit Suisse
Credit Suisse analyst Brad Zelnick raised his price target for Shopify to $275 from $190 after the company reported "strong" Q1 results with continued momentum in Shopify Plus and early traction in International. The analyst reiterates an Outperform rating on the shares given the numerous drivers that position Shopify for sustained revenue growth over the long-term, including the secular shift to e-commerce, Shopify Plus, International, and adoption of additional merchant services.
05/13/19
GUGG
05/13/19
DOWNGRADE
GUGG
Neutral
Shopify downgraded to Neutral from Buy at Guggenheim

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