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Is Shopify Stock Headed to $1,000?

TheMotleyFool

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Despite its stock's torrid gains in recent years, investors are still underappreciating Shopify's (NYSE: SHOP) growth potential.

So says RBC Capital analyst Mark Mahaney. On Thursday, Mahaney reiterated his outperform rating for Shopify's stock and boosted his target price from $825 to $1,000. Mahaney's new forecast represents potential gains of 16% for investors, compared to Shopify's current price of $860.

RBC Capital analyst Mark Mahaney is bullish on Shopify's shares. Image source: Getty images.

Source Fool.com

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