Morgan Stanley Upgrades Shopify (SHOP) to Overweight
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January 21, 2016 7:28 AM EST
Wedbush initiates coverage on Shopify (NYSE: SHOP) with a Outperform rating and a price target of $25.00.
Analyst Gil Luria commented, "We believe ecommerce enablers are best positioned to take advantage of the secular shift of retail online and that Shopify represents a best-in-class... More
January 19, 2016 11:13 AM EST
Down 53% from its August 2015 highs, shares of Shopify (NYSE: SHOP) are sharply higher Tuesday after Morgan Stanley upgraded the stock to Overweight and set a $34 price target, suggesting 71% upside to Friday's close.
Analyst Brian Essex calls Shopify "best of breed" in the SMB retail vertical software market and see current levels as an attractive entry point.
The analyst notes downside in Shopify came despite the company substantially beating expectations for its first two quarters as a... More
