Shopify (SHOP) PT Raised to $212 at Rosenblatt

February 14, 2019 7:12 AM

Rosenblatt analyst Mark Zgutowicz raised the price target on Shopify (NYSE: SHOP) to $212.00 (from $190.00) while maintaining a Buy rating.

Zgutowicz commented, "As SHOP's multiple edges higher, we look for what's new underneath for support. Two things: 1) Large DTC (direct-to-consumer) companies are taking back ownership of their brands, largely from Amazon, and leveraging SHOP's platform, and 2) 5 new localized Int'l markets representing $300B+ GMV are the focus for '19 and will soon begin to scale."

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