Shopify To Gain From Dominant Position In Omni-Channel Commerce Space: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Roth Capital Partners analyst Darren Aftahi reiterated a Buy rating on Shopify Inc. (NYSE:SHOP) with a price target of $76. The analyst sees slightly better Y/Y business growth for Shopify and believes that the company's Q3 revenue/non-GAAP operating income could be higher than consensus estimates. However, he also cautioned that Shopify operates in a highly competitive space which could negatively impact its business.
August 29, 2023 | 7:11 pm
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POSITIVE IMPACT
Shopify's stock could see a positive impact due to the Buy rating and price target of $76 reiterated by Roth Capital Partners analyst. However, the competitive landscape could pose a risk.
The Buy rating and higher price target indicate the analyst's positive outlook on Shopify, which could boost investor confidence and drive the stock price up. However, the mention of a competitive landscape suggests potential challenges that could negatively impact Shopify's business and stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100