What's Going On With Shopify Stock Tuesday?
Portfolio Pulse from Adam Eckert
Shopify Inc (NYSE:SHOP) shares are trading higher after JPMorgan initiated coverage with an Overweight rating and a $74 price target, citing industry-leading growth. Despite a 19.1% year-to-date decline, analysts see a buying opportunity. Shopify's next earnings report is due at the end of July.
June 11, 2024 | 1:15 pm
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JPMorgan initiated coverage on Shopify with an Overweight rating and a $74 price target, suggesting further upside. Despite a 19.1% YTD decline, analysts see a buying opportunity.
JPMorgan's positive rating and price target suggest confidence in Shopify's growth potential, likely boosting investor sentiment and short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100