Loop Capital Maintains Hold on Shopify, Lowers Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
Loop Capital analyst Anthony Chukumba maintains a Hold rating on Shopify (NYSE:SHOP) and lowers the price target from $90 to $80.
April 15, 2024 | 2:36 pm
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NEGATIVE IMPACT
Shopify's price target was reduced from $90 to $80 by Loop Capital, while maintaining a Hold rating.
The reduction in Shopify's price target by Loop Capital suggests a bearish outlook on the stock's short-term price movement, potentially due to perceived challenges or slower growth. The Hold rating indicates a lack of strong positive catalysts to drive the stock higher in the near term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100