Shopify Stock: Next Stop, $127?
Shares of Shopify (NYSE: SHOP) have been rallying in recent days, and at least one Wall Street pro sees the fast-growing e-commerce solutions provider heading even higher. Darren Aftahi at Roth Capital is raising his price target on the stock from $119 to $127.
Aftahi's goal isn't the market's loftiest forecast. Gus Papageorgiou at Macquarie slapped a $146 price target on Shopify stock two months ago, encouraged by the dot-com darling's "virtually unassailable" competitive position. However, Aftahi's move represents the most ambitious upward revision on Shopify since the company's stock took a hit after posting poorly received financial results on Halloween. Aftahi's new price represents 17% of upside from Monday's close, and it would also be a new all-time high.
Image source: Shopify.
Source: Fool.com
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