Source: Benzinga Feeds
While Shopify Inc (NYSE: SHOP ) has strong long-term earnings growth prospects, these seem to be “fully reflected” in its current share price, according to Loop Capital. The Analyst Loop Capital’s Anthony Chukumba initiated coverage of Shopify with a Hold rating and price target of $420. The Thesis Shopify offers a robust multichannel commerce platform at very attractive price points, which translates to “a compelling merchant value proposition,” Chukumba said in the note. He added that Shopify’s total addressable market is both large and fast growing and that the company is “uniquely positioned” to benefit from the expected high growth of ecommerce globally. See Also: Mizuho … Full story available on Benzinga.com
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