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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 06:40 EDT
BofA analyst Brad Sills raised his price target on Shopify to $450 after its "very solid" Q4 earnings beat and revenue upside in both subscription and merchant solutions. The analyst notes that the company is making progress with key growth initiatives - international and payments. Sills is keeping his Underperform rating on Shopify however given the stock's limited upside potential at its current valuation of 23-times expected 2021 revenue. The analyst adds that the company's next major opportunity is in fulfillment, which is likely to run at "breakeven" for the next 5 years.
News For SHOP From the Last 2 Days
May 11, 2021 | 18:24 EDT
In an interview on CNBC's Mad Money, Max Levchin said Affirm (AFRM) doesn't charge late fees. "Consumers use Affirm when they want honesty and transparency," he added. "We have an exclusive relationship with Shopify (SHOP)." Levchin noted that Affirm is "first and foremost" a technology company. It can scale with the largest partners and offer solutions. He feels the company is "primed" to take advantage of the recovery in travel.
May 11, 2021 | 10:07 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BUY SHOPIFY: Loop... To see the rest of the story go to See Story Here
May 11, 2021 | 09:54 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Buy from Hold at Jefferies with analyst Randal Konik saying increased interest in health and wellness, higher adoption of casualwear fashion and the return of sports and outdoor activities has the sportswear market "on fire" and he sees no signs of it slowing. 2. U.S. Steel (X) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Carlos De Alba noting that steel market fundamentals remain on "solid footing," with HRC prices now expected to be above $1K per ton through "at least" Q4 of this year. 3. ShockWave Medical (SWAV) upgraded to Overweight from Neutral at Piper Sandler and upgraded to Buy from Neutral at BofA. 4. Shopify (SHOP) upgraded to Buy from Hold at Loop Capital with analyst Anthony Chukumba saying the company offers a "compelling" merchant value proposition and its ecosystem continues to grow. 5. Trade Desk (TTD) upgraded to Buy from Hold at Truist with analyst Youssef Squali saying while the visibility beyond Q3 is "clouded", Trade Desk should remain the "primary beneficiary" of secular growth in programmatic, CTV, and as an "alternative to walled gardens." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.