Evercore ISI Group Downgrades Shopify to In-Line, Announces $69 Price Target
Portfolio Pulse from richadhand@benzinga.com
Evercore ISI Group analyst Mark Mahaney has downgraded Shopify (NYSE:SHOP) from Outperform to In-Line and announced a $69 price target.
July 18, 2023 | 8:42 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Shopify's rating has been downgraded from Outperform to In-Line by Evercore ISI Group, with a new price target set at $69.
The downgrade from Outperform to In-Line suggests that the analyst believes Shopify's stock will perform similarly to other stocks in the market, rather than outperforming them. This, combined with the new price target, could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100