William Blair Remains Sidelined on Shopify (SHOP)

William Blair analyst, Justin Furby, reiterated a Market Perform rating on Shopify (NYSE: SHOP) following the annual Shop.org conference. Shopify did not have a direct presence at the event, although Furby spoke with several Shopify Plus competitors and a few partners.

Furby was encouraged by the comments around the demand environment and strong traction with Plus. William Blair sees the risk/reward profile as balanced at current levels, however, and in order to revisit the rating, they would like to get more comfort around the company’s net MRR bookings trajectory, competitive positioning with Plus as it continues to scale, and Shopify’s ability to scale margins.

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 $153.73 yesterday.

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