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Benzinga
Benzinga
Business
Shanthi Rexaline

Analyst Cuts Price Target On Shopify But Still Sees 37% Upside: What You Should Know

Shopify SHOP Brent Bracelin NYSE Piper Sandler

Shares of Shopify, Inc. (NYSE:SHOP) have shed about 58% 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% upside from latest closing price.

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