Shopify (SHOP) Stock Extends Drop From All-time Highs to Nearly 80% After Disappointing Results

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Shopify (SHOP) PT Lowered to $550 at Jefferies

May 6, 2022 8:06 AM EDT

Jefferies analyst Samad Samana lowered the price target on Shopify (NYSE: SHOP) to $550.00 (from $1,350.00) while maintaining a Buy rating following earnings.

The analyst commented, "A few incremental takeaways after the call were: 1) a rebalancing in consumer spending toward services and... More