Shopify shares are trading lower after Evercore ISI Group downgraded the stock from Outperform to In-Line and announced a $69 price target.
Portfolio Pulse from Benzinga Newsdesk
Shopify's stock has been downgraded from Outperform to In-Line by Evercore ISI Group, which also set a price target of $69. This has led to a decrease in Shopify's share price.
July 18, 2023 | 3:42 pm
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Shopify's stock was downgraded by Evercore ISI Group, leading to a decrease in its share price.
The downgrade by Evercore ISI Group from Outperform to In-Line indicates a less optimistic outlook for Shopify's stock. This, coupled with a price target of $69, has likely contributed to the decrease in Shopify's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100