Evercore ISI Group Downgrades Shopify to In-Line, Announces $69 Price Target
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Mark Mahaney has downgraded Shopify (NYSE:SHOP) from Outperform to In-Line and set a price target of $69.
July 17, 2023 | 8:17 pm
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Shopify has been downgraded by Evercore ISI Group from Outperform to In-Line, with a new price target of $69.
The downgrade from Outperform to In-Line by Evercore ISI Group indicates a less optimistic outlook for Shopify's stock. The new price target of $69 may also suggest that the analyst believes the stock is currently overvalued. This could potentially lead to a decrease in Shopify's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100