Shopify's downbeat revenue growth forecast sends shares to six-month low
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Shopify (SHOP) PT Lowered to $85 at RBC Capital
May 9, 2024 6:34 AM EDTRBC Capital analyst Paul Treiber lowered the price target on Shopify (NYSE: SHOP) to $85.00 (from $100.00) while maintaining a Outperform rating.
The analyst comments "Shopify's shares dropped 19% today as Q2 guidance calls for lower than expected margins due to new investments and less than... More
Shopify (SHOP) PT Lowered to $78 at BofA Securities
May 9, 2024 6:07 AM EDTBofA Securities analyst Brad Sills lowered the price target on Shopify (NYSE: SHOP) to $78.00 (from $92.00) while maintaining a Neutral rating.
The analyst comments "Macro pressures to Shopifys GMV do not appear to be improving. With lower-margin payments business continues to pressure gross margin,... More
Shopify (SHOP) PT Lowered to $80 at Deutsche Bank
May 9, 2024 5:15 AM EDTDeutsche Bank analyst Bhavin Shah lowered the price target on Shopify (NYSE: SHOP) to $80.00 (from $95.00) while maintaining a Buy rating.
The analyst comments "Shopifys 1Q results highlight how strong merchant migrations, particularly within Shopify Plus, is enabling the company to outpace overall ecommerce... More
Piper Sandler Upgrades Shopify (SHOP) to Neutral
May 9, 2024 4:55 AM EDTPiper Sandler analyst Michael Olson upgraded Shopify (NYSE: SHOP) from Underweight to Neutral with a price target of $63.00.
The analyst comments "Even with our negative bias on FY24 profits, we were surprised to see Q1 non-GAAP OpEx of $761M (+13%... More
Shopify (SHOP) PT Lowered to $77 at Roth/MKM
May 8, 2024 12:59 PM EDTRoth/MKM analyst Darren Aftahi lowered the price target on Shopify (NYSE: SHOP) to $77.00 (from $89.00) while maintaining a Buy rating.
The analyst comments "Trends across SHOPs non-core businesses remained strong in 1Q, including payments, offline GMV, and international. Changes in marketing... More
