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Where Does Wall Street Think Shopify Inc (SHOP) Stock Will Go?

Monday, May 16, 2022 01:33 PM | InvestorsObserver Analysts
Where Does Wall Street Think Shopify Inc (SHOP) Stock Will Go?

Wall Street is positive on Shopify Inc (SHOP). On average, analysts give SHOP a Buy rating. The average price target is $882.062, which means analysts expect the stock to gain by 143.87% over the next twelve months. That average ranking earns SHOP an Analyst Rating of 28, which is better than 28% of stocks based on data compiled by InvestorsObserver.

Overall Score - 3.9
Wall Street analysts are rating SHOP a Buy today. Find out what this means to you and get the rest of the rankings on SHOP!

Why are Analyst Ratings Important?

You can learn a lot about a company from looking at it’s financial statements and comparing them to other companies. Analysts who cover an industry in depth can add even more to your research though. They typically follow a particular sector or industry very closely. They also pay attention to and ask questions on earnings conference calls and other events where they might learn information that does show up in the numbers. InvestorsObserver takes the average rating from these analysts, and then percentile ranks those averages. This lets you compare stocks in a much more granular way than just seeing the typical five-tiered rating system used on most of Wall Street.

What's Happening With Shopify Inc Stock Today?

Shopify Inc (SHOP) stock is trading at $361.70 as of 1:22 PM on Monday, May 16, a loss of -$40.83, or -10.14% from the previous closing price of $402.53. The stock has traded between $358.00 and $398.24 so far today. Volume today is 3,841,600 compared to average volume of 4,572,762. Click Here to get the full Stock Report for Shopify Inc stock.

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