Why Is Shopify's Stock Trading Higher On Friday?
SHOPShopify(SHOP) Benzinga·2024-06-14 23:33

Loading...Loading...Shares of e-commerce company Shopify Inc SHOP are trading higher after Evercore ISI analyst Mark Mahaney upgraded the stock from In-Line to Outperform rating and announced a price target of $75.Mahaney noted that a 30% pullback in the stock from the 52-week high has provided an attractive entry point into owning a best-in-class e-commerce platform business. The analyst said Shopify's very large Total Addressable Market (about $850 billion TAM), very strong competitive position, and upmar ...