Why Shopify Stock Suddenly Soared Today
Shares of (NYSE: SHOP) jumped as much as 7.7% higher on Friday morning, buffed by a bullish research report from analysts at Wells Fargo.
Wells Fargo analyst Andrew Bauch reaffirmed his overweight rating on the e-commerce services stock while lifting the price target from $80 to $90 per share. In a note to clients, Bauch said that a robust holiday shopping season was already baked into Shopify's stock price. In order to go higher from here, he's looking for product updates and long-lasting profit margin improvements.
Investors were quick to embrace this optimistic analysis, taking Shopify's stock back to prices not seen since the start of 2022 -- the early days of the inflation crisis.
Source Fool.com
Shopify Inc Aktie
55,35 €
1,06 %
Die Shopify Inc Aktie steht recht gut da: Mehr Buy- als Sell-Einschätzungen in der Community.
Für Shopify Inc sieht die Community ein Kursziel von 75 €, was eine erhebliche Steigerung um über 20% gegenüber dem aktuellen Kurs von 55.35 € bedeutet.
