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 Stock
€54.17
-1.100%
Currently there is a rather positive sentiment for Shopify Inc with 4 Buy predictions and 0 Sell predictions.
As a result the target price of 75 € shows a positive potential of 38.45% compared to the current price of 54.17 € for Shopify Inc.
