Today’s Stock Alert: What’s Next for Shopify Inc After Today’s Significant Increase?

Today's Stock Alert: What's Next for Shopify Inc After Today's Significant Increase?

The stock of Shopify Inc (NYSE:SHOP) is a huge mover today! About 478,141 shares traded hands. Shopify Inc (NYSE:SHOP) has risen 27.18% since April 13, 2016 and is uptrending. It has outperformed by 23.25% the S&P500.
The move comes after 7 months positive chart setup for the $3.40B company. It was reported on Nov, 15 by Barchart.com. We have $60.08 PT which if reached, will make NYSE:SHOP worth $1.70B more.

Shopify Inc (NYSE:SHOP) Ratings Coverage

Out of 18 analysts covering Shopify (NYSE:SHOP), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. Shopify has been the topic of 24 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Credit Suisse maintained the stock with “Outperform” rating in Thursday, August 18 report. As per Tuesday, March 8, the company rating was upgraded by Pacific Crest. The firm has “Equal-Weight” rating by Morgan Stanley given on Wednesday, September 28. The firm earned “Buy” rating on Wednesday, May 4 by Roth Capital. The stock has “Buy” rating given by Canaccord Genuity on Thursday, February 18. On Wednesday, June 29 the stock rating was initiated by Monness Crespi & Hardt with “Buy”. The firm has “Overweight” rating by KeyBanc Capital Markets given on Monday, August 22. As per Thursday, May 26, the company rating was initiated by Maxim Group. The firm earned “Outperform” rating on Wednesday, November 18 by Raymond James. The stock of Shopify Inc (NYSE:SHOP) earned “Neutral” rating by Bank of America on Friday, August 12.

According to Zacks Investment Research, “Shopify Inc. offers cloud-based commerce platform. The Company’s platform provides merchants to design, set up and manage their stores through Web, mobile, social media, brick-and-mortar locations and pop-up shops. Shopify Inc. is based in Ottawa, Canada.”

More recent Shopify Inc (NYSE:SHOP) news were published by: Fool.com which released: “Shopify Inc. Revenue Soars 89%” on November 03, 2016. Also Fool.com published the news titled: “Shopify Inc. Keeps Growing” on October 02, 2016. Profitconfidential.com‘s news article titled: “Shopify Inc: SHOP Stock Could Go into Orbit Based on THIS” with publication date: October 20, 2016 was also an interesting one.

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