Why Shopify Stock Is Trading Higher
Portfolio Pulse from Adam Eckert
Shopify Inc (NYSE:SHOP) shares are trading higher due to positive analyst coverage. Analysts from MoffettNathanson and Mizuho have upgraded their ratings and raised their price targets for Shopify. The company is expected to report Q2 earnings soon, with estimates suggesting earnings of 6 cents per share on quarterly revenue of $1.62 billion.
July 24, 2023 | 12:45 pm
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POSITIVE IMPACT
Positive analyst coverage and raised price targets suggest a bullish outlook for Shopify. The upcoming Q2 earnings report could further influence the stock's performance.
The stock is trading higher due to positive analyst coverage. Analysts from MoffettNathanson and Mizuho have upgraded their ratings and raised their price targets, indicating a positive outlook for the company. The upcoming Q2 earnings report, which is expected to show earnings of 6 cents per share on quarterly revenue of $1.62 billion, could further influence the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100