Analyst Rating Update on Shopify (SHOP)

Shopify (SHOP) : 8 brokerage houses believe that Shopify (SHOP) is a Strong Buy at current levels. 3 Analyst considers the fundamentals to be worthy of a Buy recommendation. 1 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Shopify (SHOP). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 12 Wall Street Analysts endorse the stock as a Strong Buy with a rating of 1.38.

Shopify (SHOP) : The highest level Shopify (SHOP) is projected to reach is $40 for the short term and the lowest estimate is at $32. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $35.46 and the possibility the share price can swing is $2.16.

For the current week, the company shares have a recommendation consensus of Buy. Also, Monness Crespi Hardt initiates coverage on Shopify (NYSE:SHOP) The current rating of the shares is Buy. The rating by the firm was issued on June 29, 2016.


Shopify (NYSE:SHOP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.97 and $33.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $37.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.79, notching a gain of 9.72% for the day. The total traded volume was 3,353,717 . The stock had closed at $33.53 on the previous day.

Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Companys platform lets users to create their own online store. The Companys platform provides merchants to design, set up and manage their stores across multiple sales channels, including Web, mobile, social media, brick-and-mortar locations, and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products, customizing the design, accepting credit cards, and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion, electronics, sporting goods, furniture and food, among others. The Companys platform offers over 900 applications.

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