- The shares of Shopify Inc (NYSE: SHOP) have received a $1,300 price target from Stifel. These are the details.
The shares of Shopify Inc (NYSE: SHOP) have received a $1,300 price target from Stifel. And Stifel analyst Scott Devitt reduced the price target on Shopify from $1,550 while maintaining a “Buy” rating on the shares ahead of the company’s financial results report due in late January.
Plus Devitt lowered the GMV and GPV estimates, which results in the Q4 revenue estimate dropping to $1.3 billion from $1.33 billion, which Devitt pointed out is slightly below the Street’s $1.34 billion forecasts.
The estimate changes flow through to the reduced price target. And Devitt also explained that the range of the Street estimates for Shopify’s adjusted net income is wide heading into the quarter.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.