Shopify Receives a Buy from KeyBanc

By Jason Carr

KeyBanc analyst Alyssa Johnson reiterated a Buy rating on Shopify (NYSE: SHOP) yesterday and set a price target of $116. The company’s shares opened today at $96.30.

According to TipRanks.com, Johnson is a 2-star analyst with an average return of 5.4% and a 66.7% success rate. Johnson covers the Technology sector, focusing on stocks such as Wix.com Ltd, Splunk Inc, and Paylocity.

Currently, the analyst consensus on Shopify is Moderate Buy and the average price target is $107.91, representing a 12.1% upside.

In a report issued on September 29, Robert W. Baird also reiterated a Buy rating on the stock with a $110 price target.

The company has a one-year high of $123.94 and a one-year low of $37.74. Currently, Shopify has an average volume of 2.56M.

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Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops.