HomeMost PopularShopify Hits Analyst Price Target Milestone

Shopify Hits Analyst Price Target Milestone

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Shopify Surpasses Target Price: What’s Next for Investors?

Recently, shares of Shopify Inc (Symbol: SHOP) have traded above the average analyst target price of $118.94, changing hands at $119.18 per share. When a stock reaches an analyst’s target, they have two main options: downgrade the stock or adjust the target price higher. Analysts’ responses may vary based on the business developments impacting the company’s stock performance — if conditions are improving, it may be time to set a new, higher target price.

Analyst Forecasts Reveal Diverse Opinions

There are 41 different analyst targets contributing to the average price for Shopify Inc, illustrating a wide range of perspectives. While the average is $118.94, some analysts maintain lower targets, such as $90.94, while others predict prices as high as $140.00. The standard deviation among these targets is $13.885, indicating a notable level of uncertainty among analysts.

Assessing Potential Directions for Shopify

The average price target reflects a “wisdom of crowds” approach, combining insights from multiple analysts rather than relying on a single expert opinion. With SHOP surpassing the average target price, this situation encourages investors to reevaluate their positions. Investors must consider whether $118.94 is merely a milestone on the path to higher prices or if the current valuation is unwarranted, prompting the need to reconsider their investments.

Recent SHOP Analyst Ratings Breakdown
» Current 1 Month Ago 2 Months Ago 3 Months Ago
Strong buy ratings: 26 25 24 25
Buy ratings: 1 1 1 1
Hold ratings: 17 17 18 18
Sell ratings: 0 0 0 0
Strong sell ratings: 1 1 1 0
Average rating: 1.87 1.89 1.93 1.84

The average rating in the above table ranges from 1 to 5, where 1 indicates a Strong Buy and 5 indicates a Strong Sell. Data for this analysis was sourced from Zacks Investment Research via Quandl.com.

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Also see:

• Historical PE Ratio
• HMTV Insider Buying
• Carmax DMA

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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