DA Davidson analyst Gil Luria raised the firm’s price target on Shopify (SHOP) to $125 from $115 and keeps a Buy rating on the shares. Following the firm’s recent conversation with the company and better than expected Q1 results, DA Davidson has analyzed Shopify’s merchant base and identified an acceleration in its y/y merchant growth, with the findings supporting its perspective that Shopify’s business is more resilient than feared, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP:
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories
- Crypto Currents: Coinbase, Shopify partner for USDC payments
- USDC Comes to Shopify, Coinbase Deal Could Boost SHOP Stock
- Shopify partners with Coinbase, Stripe over USDC payments, The Block says
- Sezzle files antitrust lawsuit against Shopify
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue