Is Shopify Stock Going to $77? 1 Wall Street Analyst Thinks So.
After suffering a 16% price drop over the past month, (NYSE: SHOP) stock is ice-cold on the market. Does that make the e-commerce facilitator an irresistible buy?
One analyst tracking the company certainly thinks so, even though he just took a big pair of scissors to his price target. Here's a look at the current state of Shopify, and whether its recent share price tumble makes it a buy on weakness.
In the wake of Spotify's first-quarter earnings release, Roth MKM's Darren Aftahi significantly reduced his price target over the next 12 months on the stock to $77 per share from the preceding $89 target. Crucially, though, he maintained his buy recommendation. The new target still implies a 31% jump from the current price.
Source Fool.com
Shopify Inc Aktie
56,60 €
1,49 %
Leichte Community-Bevorzugung: Shopify Inc mit mehr Buy- als Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 75 € für Shopify Inc zeigt ein Potenzial von über 20% im Vergleich zum aktuellen Kurs von 56.6 €.
