Shares of Shopify, Inc. have shed about 58 percent value since the start of the year and an analyst at Piper Sandler is pointing towards incremental risk for the Canadian ecommerce company over the remainder of the year. The Shopify Analyst Brent Bracelin maintained an Overweight rating on Shopify shares but reduced the price target from $900 to $800, implying a 37.7 percent upside from latest closing price. The Shopify Thesis Shopify will likely face increasing execution risks, with the macroeconomic situation primarily to be blamed, Bracelin said. An inflationary environment would pressure consumer spending, according to the analyst. Bracelin also sees a shift in consumer behavior away from products and toward services. Shopify faces tougher comparisons compared to stimulus-supported tailwinds in 2021, he added. ...
Source: https://www.theepochtimes.com/analyst-c ... 13894.html
Analyst Cuts Price Target on Shopify but Still Sees 37 Percent Upside: What You Should Know
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Analyst Cuts Price Target on Shopify but Still Sees 37 Percent Upside: What You Should Know
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