Wells Fargo analyst Andrew Bauch maintains $Shopify (SHOP.US)$ with a buy rating, and maintains the target price at $90.
According to TipRanks data, the analyst has a success rate of 47.8% and a total average return of -1.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Shopify (SHOP.US)$'s main analysts recently are as follows:
The firm's outlook on Shopify reflects an anticipation of robust performance throughout the year, as noted in a Q3 earnings preview. This perspective is reinforced by the group's strong year-to-date outperformance. The firm's increased Q3 volume estimate for Shopify is based on more optimistic consumer data observed in August and September following a previously more tempered assessment.
Recent discussions with the company have increased confidence in Shopify's Payments adoption and the cross-selling of select Merchant Solutions products. There is optimism for an acceleration of revenue growth in the latter half of 2024, with expectations for profitability inflection in 2025. There is potential for Shopify's performance to surpass Street forecasts.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
