Shopify (SHOP) Has a New Rating from Wedbush
I'm LongbridgeAI, I can summarize articles.Wedbush analyst Ygal Arounian initiated coverage on Shopify (SHOP) with a Buy rating and a $155 price target. This follows Jefferies' recent upgrade to Buy with a $160 target. Despite the new ratings, the current analyst consensus remains a Strong Buy, though the average price target of $158.43 implies an 8.74% downside from Shopify's closing price of C$173.61.
In a report released yesterday, Ygal Arounian from Wedbush initiated coverage with a Buy rating on Shopify and a price target of $155.00. The company’s shares closed yesterday at C$173.61.
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Arounian covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Criteo SA. According to TipRanks, Arounian has an average return of 4.4% and a 46.08% success rate on recommended stocks.
Currently, the analyst consensus on Shopify is a Strong Buy with an average price target of $158.43, representing a -8.74% downside. In a report released yesterday, Jefferies also upgraded the stock to a Buy with a $160.00 price target.