Piper Sandler Downgrades Shopify (SHOP) to Underweight

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Shopify (SHOP) holds an 'untenable valuation' - Piper Sandler

November 28, 2023 8:31 AM EST

Shopify (NYSE: SHOP) shares were cut to Underweight from Neutral at Piper Sandler on Tuesday, with analyst Clarke Jeffries lowering the price target to $56 from $58 per share.

Jeffries said in a note that the firm decided to revisit its investment thesis... More