Shopify Stock Is Hitting 52-Week Highs: What's Going On?
Portfolio Pulse from Adam Eckert
Shopify Inc (NASDAQ:SHOP) shares are trading higher on above-average volume, following positive analyst coverage from Jefferies. Analyst Samad Samana maintained a Hold rating and raised the price target from $44 to $65. The stock is up more than 88% year-to-date.
June 12, 2023 | 6:13 pm
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Shopify shares are trading higher after Jefferies analyst Samad Samana maintained a Hold rating and raised the price target from $44 to $65. The stock is up more than 88% year-to-date.
The positive analyst coverage from Jefferies, with a raised price target, is a strong signal for investors, leading to increased trading volume and a surge in Shopify's stock price. This directly impacts the short-term performance of the stock, making it likely to go up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100