Credit Suisse Resumes Shopify (SHOP) at Outperform

August 18, 2016 9:47 AM EDT
Get Alerts SHOP Hot Sheet
Price: $50.09 -1.13%

Rating Summary:
    12 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Credit Suisse resumed coverage on Shopify (NYSE: SHOP) with an Outperform rating and a price target of $46.

Analyst Michael Nemeroff said, "We continue to recommend investors buy SHOP shares due to: (1) the company's leading integrated cloud-based commerce platform for SMBs; (2) the secular growth in eCommerce and convergence of multiple retail sales channels (digital and brick-and-mortar); (3) its highly extensible platform with a large third-party ecosystem; (4) significant competitive advantages versus peers; (5) a unique share-based pricing model that scales with its customers' success; (6) international growth opportunity; and (7) recent initiatives (social channels, Shipping, Kit CRM, Shopify Capital), which we believe remain in the very early innings of monetization.."

For an analyst ratings summary and ratings history on Shopify click here. For more ratings news on Shopify click here.

Shares of Shopify closed at $38.74 yesterday.

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