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SHOP

Shopify

$448.66

7.16 (1.62%)

05:18
01/16/20
01/16
05:18
01/16/20
05:18

Loop Capital starts Shopify at Hold with 'robust' growth outlook priced in

Loop Capital analyst Anthony Chukumba last night initiated coverage of Shopify with a Hold rating and $420 price target. While Shopify provides a "compelling merchant value proposition," has a fast-growing total addressable market, and has opportunities to increasingly provide additional products and services to its merchants, the company's "robust" long-term earnings growth prospects are fully reflected in its stock price at current levels, Chukumba tells investors in a research note. As such, the analyst would wait for a more attractive entry point before becoming more constructive on the stock.

SHOP Shopify
$448.66

7.16 (1.62%)

12/30/19
RSBL
12/30/19
NO CHANGE
RSBL
FTC passing on Facebook break-up among Rosenblatt's 2020 Internet predictions
Rosenblatt analyst Mark Zgutowicz offered investors some 2020 predictions for internet stocks he covers, including his estimate that FTC antitrust investigators will not advise a breakup of Facebook (FB) in the coming year. The analyst, who expects breakup concerns to lessen "considerably" in 2020, thinks this should help the stock's multiple recover from its lows of 2019. In 2020 Zgutowicz also predicts that Spotify (SPOT) will strike a partnership with one of the "multitude of OTT video platforms competing for limited time" of consumers, that Shopify (SHOP) will guide that its Shopify Fulfillment Network will account for nearly 10% of total revenue by FY21, that Wix (WIX) will reset its revenue expectations to "revert more quickly to industry norms," and that Trade Desk (TTD) will "take a breath" in terms of its revenue growth pace.
01/09/20
MZHO
01/09/20
INITIATION
Target $410
MZHO
Neutral
Shopify initiated with a Neutral at Mizuho
Mizuho analyst Siti Panigrahi initiated coverage of Shopify with a Neutral rating and $410 price target. Panigrahi said that the company is "well-positioned" to maintain "robust" revenue growth as it has "easy to use" products and favorable secular trends. The analyst added that while he has a positive bias towards the company, he does not expect much upside in the stock price from the current level after a 215% uptick in 2019, and the shares trading at an all-time high valuation multiple.
01/13/20
FBCO
01/13/20
NO CHANGE
Target $450
FBCO
Outperform
Shopify price target raised to $450 from $370 at Credit Suisse
Credit Suisse analyst Brad Zelnick raised his price target for Shopify to $450 from $370 as he anticipates it will continue to execute against its secular growth opportunities in 2020 and given his updated DCF. The analyst has an Outperform rating on the shares.
01/15/20
LOOP
01/15/20
INITIATION
Target $420
LOOP
Hold
Shopify initiated with a Hold at Loop Capital
Loop Capital analyst Anthony Chukumba initiated coverage of Shopify with a Hold rating and $420 price target.

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