SHOP - PT Upgrade to $74 US By Goldman SachsShopify, Kraft Heinz upgraded: Wall Street's top analyst calls (yahoo.com) -
Goldman Sachs upgraded Shopify (SHOP) to Buy from Neutral with a price target of $74, up from $67. Given Shopify's "significant technology moat" in e-commerce software and share gain across cycles, the firm believes these investments will drive more durable revenue growth at scale.
Now if we can just get a few more upgrades from some CREDIBLE institutions I might be inclined to buy a few more SHOP shares. My guess is that GS is just testing the waters today to see if there's enough interest to start taking this thing higher. There's still plenty of analysts that think SHOP is going much lower before it bottoms so I guess we'll see.
Insider FINKELSTEIN (President of SHOP) seems to treat this stock as his personal ATM machine according to the never ending stream of shares he is continually disposing of. Not exactly a confidence builder for retail investors when the President is continually dumping his shares.
CEO.CA SEDI filings for The RBC analyst is maintaining his 'Outperform' rating and $85 US price target as of May 19, 2024 so maybe there is a light at the end of this tunnel!
HB77