Shopify Stock Is Surging: What's Going On?
Portfolio Pulse from Adam Eckert
Shopify Inc's shares are trading higher due to positive analyst coverage from Roth MKM. The analyst maintained a Buy rating for Shopify and increased the price target from $68 to $73. This is based on positive channel checks and growth acceleration ahead of the company's Q2 earnings next month. Shopify is expected to report earnings of 6 cents per share on quarterly revenue of $1.62 billion.
July 13, 2023 | 3:49 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Shopify's stock is trading higher due to positive analyst coverage. The price target has been raised from $68 to $73, indicating potential growth.
The positive analyst coverage from Roth MKM and the raised price target indicate a positive outlook for Shopify's stock. This is likely to attract more investors, driving the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100