Why Shopify Stock Gained Today
Shares of Shopify (NYSE: SHOP) have gained as much as 5% Thursday after getting an upgrade from Wall Street. Jefferies boosted its rating on Shopify from hold to buy while increasing its price target from $1,150 to $1,250.
Analyst Samad Samana has become increasingly confident that the e-commerce technology company can continue growing in the years ahead. Despite conceding that he has missed out on Shopify's "meteoric rise" thus far, Samana remains bullish on the company's prospects and believes there is more upside in store.
Image source: Shopify.
Source Fool.com
