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SHOP

Shopify

$316.25

11.94 (3.92%)

12:25
06/19/19
06/19
12:25
06/19/19
12:25

Shopify to host investor day

Investor day to be held in Toronto, Canada on June 19 at 1 pm. Webcast Link

  • 19

    Jun

  • 05

    Sep

SHOP Shopify
$316.25

11.94 (3.92%)

05/14/19
MSCO
05/14/19
DOWNGRADE
Target $209
MSCO
Underweight
Morgan Stanley says Shopify model overvalued, downgrades to Underweight
Morgan Stanley analyst Brian Essex downgraded Shopify to Underweight from Equal Weight, citing his view that the stock is not deserving of the same multiple as high-growth U.S. Software-as-a-Service companies as less than half of Shopify's revenue comes from subscriptions. Most of Shopify's revenue is transaction-based and its mix is shifting increasingly toward transaction-based revenue, said Essex, who adds that he thinks investors are overpaying for Shopify's Merchant Solutions business at the stock's current valuation. Essex raised his price target on Shopify shares to $209 from $173, however, as he changed his valuation framework to sum-of-the-parts from discounted cash flow.
05/14/19
05/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Solid Biosciences (SLDB) downgraded to Underperform from Neutral at Credit Suisse, to Sell from Neutral at Goldman Sachs, and to Neutral from Buy at Chardan. 2. Shopify (SHOP) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Brian Essex citing his view that the stock is not deserving of the same multiple as high-growth U.S. 3. Deere (DE) downgraded to Underweight from Neutral at JPMorgan with analyst Ann Duignan saying she sees "rapidly deteriorating" fundamentals in U.S. agriculture. 4. G-III Apparel (GIII) and Steven Madden (SHOO) downgraded to Neutral from Overweight at Piper Jaffray. 5. Insys Therapeutics (INSY) downgraded to Neutral from Buy at Janney Montgomery Scott. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/06/19
KEYB
06/06/19
NO CHANGE
Target $300
KEYB
Overweight
Shopify price target raised to $300 from $275 at KeyBanc
KeyBanc analyst Josh Beck last night raised his price target for Shopify to $300 from $275 while keeping an Overweight rating on the shares. The analyst left e-commerce platform Magento's industry conference more positive on Shopify. The "competitive narrative appears over-hyped given Magento's ongoing enterprise focus," Beck told investors in a research note. The analyst sees a path where Magento can gain ~9% market share and Shopify ~2% with "limited overlap" in the coming years. The market has "ample opportunities" for both companies, says Beck, who also raised his "bull case" for Shopify shares to $350. The stock in afternoon trading is up 2% to $298.21.
06/07/19
GSCO
06/07/19
INITIATION
GSCO
Neutral
Shopify initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Christopher Merwin started Shopify with a Neutral rating.

TODAY'S FREE FLY STORIES

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BBIO

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INXN

Interxion

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LECO

Lincoln Electric

$80.24

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ISTR

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GD

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UAL

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NOMD

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AMC

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SECCF

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ACRS

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