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SHOP

Shopify

$313.75

-0.24 (-0.08%)

07:21
07/08/19
07/08
07:21
07/08/19
07:21

Shopify price target raised to $350 from $300 at KeyBanc

KeyBanc analyst Josh Beck raised his price target for Shopify (SHOP) to $350 from $300 as he walked away from three different e-commerce industry conferences more constructive on the runway for Plus, international and FinTech initiatives based on positive partner, developer and merchant feedback following an "impressive" array of product launches. The analyst has built a 100-plus line bottom-up segment model to better assess these drivers and sees gross merchandise volume eventually rivaling Amazon (AMZN) 1P sales. Beck reiterates an Overweight rating on Shopify's shares.

  • 05

    Sep

SHOP Shopify
$313.75

-0.24 (-0.08%)

06/24/19
06/24/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sonoco (SON) downgraded to Sell from Neutral at Goldman Sachs with analyst Brian Maguire citing valuation. 2. Occidental Petroleum (OXY) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Devin McDermott saying he believes covering the 2020 dividend at current oil prices will require meaningful capital expenditure cuts, even though the Anadarko (APC) deal looks accretive to cash flow. 3. International Paper (IP) downgraded to Equal Weight from Overweight at Stephens with analyst Mark Connelly saying RISI decided to cut the price of containerboard $10 "just three days after investors breathed a sigh of relief on encouraging supply-demand fundamentals." 4. Shopify (SHOP) downgraded to Neutral from Buy at Roth Capital with analyst Darren Aftahi saying he remains positive on its underlying business prospects following the company's Unite conference and investor day but not on the stock's valuation, which has increased in the wake of the event. 5. Spotify (SPOT) downgraded to Underperform from In Line at Evercore ISI with analyst Kevin Rippey saying the recent rally in the stock "reflects an overly optimistic view" on the company's gross margin path and potential label negotiation outcomes. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/25/19
WEDB
06/25/19
DOWNGRADE
WEDB
Neutral
Shopify downgraded to Neutral from Outperform at Wedbush
06/25/19
06/25/19
DOWNGRADE
Target $305

Neutral
Shopify downgraded to Neutral on valuation at Wedbush
As previously reported, Wedbush analyst Ygal Arounian downgraded Shopify to Neutral from Outperform on valuation, while raising his price target on the shares to $305 from $270. While the analyst continues to like Shopify's positioning, vision, and competitive moat as it builds a strong retail operating system for merchants, he believes shares appropriately reflect the opportunity ahead. Additionally, while Arounian views the announcements at Shopify Unite as further improving and differentiating the platform, the most impactful announcement, Shopify Fulfillment Network, is not expected to generate profits until 2023.
06/26/19
JEFF
06/26/19
NO CHANGE
Target $250
JEFF
Hold
Shopify price target raised to $250 from $205 at Jefferies
Jefferies analyst Samad Samana raised his price target for Shopify to $250 from $205 but maintained a Hold rating. In a research note to investors, Samana says that while the Shopify Fulfillment Network expands its opportunity set with merchants, which may be good for the business long term, it will also likely lower the mix of high-value software revenue, alter the margin trajectory and introduce new risks/competition. It is too early to tell whether fulfillment will pay off similarly to Payments, the analyst argues.

TODAY'S FREE FLY STORIES

RACE

Ferrari

$168.55

2.05 (1.23%)

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RNLSY

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PUGOY

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NTES

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FCAU

Fiat Chrysler

$14.18

0.045 (0.32%)

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  • 31

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DDAIF

Daimler AG

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BMWYY

BMW

$0.00

(0.00%)

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VALE

Vale

$13.99

0.175 (1.27%)

20:38
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Periodicals
Vale to pay $106.5M to Brazil workers impacted by dam incident, Reuters says »

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  • 01

    Aug

RNR

RenaissanceRe

$187.35

3.295 (1.79%)

20:36
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  • 24

    Jul

JPM

JPMorgan

$113.87

-1.45 (-1.26%)

, JNJ

Johnson & Johnson

$134.67

0.38 (0.28%)

20:25
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JPM

JPMorgan

$113.87

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JNJ

Johnson & Johnson

$134.67

0.38 (0.28%)

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GS

Goldman Sachs

$211.55

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PLD

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FRC

First Republic

$98.61

-2.02 (-2.01%)

DPZ

Domino's Pizza

$269.97

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SNV

Synovus

$34.35

-1.08 (-3.05%)

FHN

First Horizon

$14.80

-0.305 (-2.02%)

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SON

Sonoco

$64.49

-0.69 (-1.06%)

20:04
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Downgrade
Sonoco rating change at BMO Capital »

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  • 18

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SON

Sonoco

$64.49

-0.69 (-1.06%)

19:59
07/15/19
07/15
19:59
07/15/19
19:59
Downgrade
Sonoco rating change at BMO Capital »

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  • 18

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PLD

Prologis

$79.94

-0.09 (-0.11%)

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Prologis to buy Black Creek Group industrial RE investment platform for $3.99B »

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  • 16

    Jul

PLD

Prologis

$79.94

-0.09 (-0.11%)

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  • 16

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CVX

Chevron

$125.71

-0.27 (-0.21%)

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  • 02

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GPL

Great Panther Silver

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PYPL

PayPal

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  • 24

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JBHT

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, EYEN

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VKTX

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ATEX

Anterix

$47.61

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RGEN

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$85.87

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MPW

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$18.28

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  • 15

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WTFC

Wintrust Financial

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-2.05 (-2.85%)

18:56
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  • 16

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DDAIF

Daimler AG

$0.00

(0.00%)

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PUGOY

Peugeot

$0.00

(0.00%)

18:46
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Initiation
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FCAU

Fiat Chrysler

$14.18

0.045 (0.32%)

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  • 31

    Jul

TGI

Triumph Group

$23.07

-0.22 (-0.94%)

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  • 18

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TRQ

Turquoise Hill

$1.07

-0.02 (-1.83%)

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RIO

Rio Tinto

$61.50

0.77 (1.27%)

18:29
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  • 25

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