Shopify stock falls after Wedbush downgrade [MarketWatch]
Shopify Inc. Class A Subordinate Voting Shares (SHOP)
Last shopify inc. class a subordinate voting shares earnings: 2/12 07:00 am
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investors.shopify.com/home/default.aspx
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Source: MarketWatch
Shopify stock falls after Wedbush downgrade Shopify Inc. shares SHOP, -0.99% are off 1.5% in premarket trading Tuesday after Wedbush downgraded the stock to neutral from outperform. "We take a step back on shares to digest the 125% YTD increase (vs 21% for the Nasdaq), premium valuation, and new product announcements," analyst Ygal Arounian wrote. "Additionally, while we view the announcements at Shopify Unite last week as further improving and differentiating the platform, the most impactful announcement, Shopify Fulfillment Network (SFN) isn't expected to generate profits until 2023." He raised his price target to $305 from $270 in conjunction with the downgrade, following continued stock appreciation in recent weeks. Shopify shares are up 55% over the past three months, as the S&P 500 SPX, -0.24% has gained 5%.
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SHOP
Earnings
- 2/13/24 - Beat
SHOP
Sec Filings
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- 3/22/24 - Form 144
- SHOP's page on the SEC website