Piper Sandler last night assumed coverage of Shopify (SHOP) with an Overweight rating and $165 price target Piper named Shopify its top pick in the web builders space. While the stock’s valuation is not cheap, Shopify has a path for sustained estimate revisions and is best positioned in e-commerce, the analyst tells investors in a research note. The firm views the company as the essential infrastructure provider of global commerce.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP:
- Shopify assumed at Overweight from Neutral at Piper Sandler
- Moderately bullish activity in Shopify with shares up 0.58%
- Klaviyo, Shopify deepen product integration
- Jefferies ups Shopify target, says OpenAI rollback strengthens position
- Shopify CEO Tobias Lütke Adopts New Automatic Plan to Sell Class A Shares