Shopify stock rose Monday after Credit Suisse analyst Brad Zelnick said he is getting more bullish over its shares.
On Monday, Zelnick reaffirmed his Outperform rating for Shopify shares, predicting strong growth from the company's offerings this year. He also raised his price target to $450 from $370 for the stock.
"As we enter 2020, we take this opportunity to refresh our valuation of Shopify," he wrote. "We anticipate Shopify will continue to execute against its secular growth opportunities in 2020."
Not to change the topic here:
The Bull Case for Shopify Stock Is No Longer Justified | InvestorPlace
Without question, one of the biggest surprises of 2019 was the skyrocketing of e-commerce merchant platform Shopify (NYSE: SHOP ). In the opening round last year, Shopify stock rang in 2019 with a price of $134. By year’s end, shares closed at $397.58. That’s nearly a 200% return, which is simply phenomenal.
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What really makes Shopify stock stand out, though, is how the company has received more than its fair share of criticism. Over the years, one of the most common criticisms is that management won’t release the organization’s churn rate. Especially for a small company, the churn rate would hopefully provide better context and insight. However, Hackernoon.com contributor and ex-Shopify employee Andrew Peek countered that argument with the following insightful commentary:
Shopify stock will reach new highs in 2020
Shopify stock is on a breathtaking ride hitting new highs every time. Shopify Inc. (TSX: SHOP)(NASDAQ: SHOP) stock got public in May 2015 and since then has increasingly optimistic.
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The Shopify stock reached 187 percent last year that is nearly triple of the value, and analyst predicts it can go even higher.
Tye stocks have been steadily increasing in the past years and have reached to 1340 percent in less than five years. Not only this, the S&P/TSX Composite Index is raised to 14 percent by the time.
Industry Analysis: Should You Buy Shopify Inc (SHOP) in Software - Application?
Shopify Inc ( SHOP ) is near the top in its industry group according to InvestorsObserver . SHOP gets an overall rating of 55. That means it scores higher than 55 percent of stocks. Shopify Inc gets a 76 rank in the Software - Application industry. Software - Application is number 112 out of 148 industries.
Analyzing stocks can be hard. There are tons of numbers and ratios, and it can be hard to remember what they all mean and what counts as "good" for a given value. InvestorsObserver ranks stocks on eight different metrics. We percentile rank most of our scores to make it easy for investors to understand. A score of 55 means the stock is more attractive than 55 percent of stocks.
Other things to check out:
Precision Hydration seeking Front End Developer - endurancebusiness.com
Nutrition and hydration specialist Precision Hydration (PH) is seeking a Front End Developer to help support the company's growth by 'improving the end-to-end online experience for athletes, including optimising the unique suite of Sweat Testing software.'
Dorset, UK-based PH serviced sales in 50+ countries in 2019 and recently expanded its small team to 9 full-time employees supported by a small group of part-time team members and freelancers.
The company currently works with a trusted freelance developer who maintains its back-end architecture and who has made various customisations to its Shopify-based website over the years. PH now needs an experienced developer to get on board to take the lead on optimising every aspect of the online user experience.
Shopify (NYSE:SHOP) Sets New 12-Month High After Analyst Upgrade - Slater Sentinel
Shopify Inc (NYSE:SHOP) (TSE:SHOP) hit a new 52-week high during trading on Monday after Credit Suisse Group raised their price target on the stock from $370.00 to $450.00. Credit Suisse Group currently has an outperform rating on the stock. Shopify traded as high as $444.58 and last traded at $443.76, with a volume of 320342 shares traded. The stock had previously closed at $429.17.
Other equities research analysts have also issued research reports about the stock. Guggenheim reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $400.00 price target on shares of Shopify in a research note on Monday, October 28th. Mizuho began coverage on shares of Shopify in a report on Thursday.
Shopify (NYSE:SHOP) Given New $450.00 Price Target at Credit Suisse Group - Slater Sentinel
Shopify (NYSE:SHOP) (TSE:SHOP) had its target price upped by equities researchers at Credit Suisse Group from $370.00 to $450.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Credit Suisse Group’s price target indicates a potential upside of 4.85% from the company’s previous close.
NYSE SHOP opened at $429.17 on Monday. Shopify has a 1-year low of $144.69 and a 1-year high of $438.56. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $49.50 billion, a PE ratio of -703.56 and a beta of 1.21. The firm’s fifty day simple moving average is $378.25 and its 200-day simple moving average is $342.96.
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