- The shares of Shopify Inc (NYSE: SHOP) have received a $1,770 price target from Evercore. These are the details.
The shares of Shopify Inc (NYSE: SHOP) have received a $1,770 price target from Evercore. And Evercore analyst Mark Mahaney upgraded Shopify to an “Outperform” rating from an “In-Line” rating.
Mahaney said that the stock has been dislocated after dropping 20% below the year-to-date high. And Mahaney views Shopify as one of the highest quality assets in his coverage. Plus Mahaney believes that the extension of Shop Pay to non-Shopify merchants through distribution channels such as Google and Facebook will be a powerful multi-year tailwind.
Going forward, Mahaney sees a ton of option value in the Shopify Fulfillment Network as well.
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