Bullish option flow was detected in SHOP stock on January 21, 2021.
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On January 15, 2021, Roth Capital analyst Darren Aftahi raised the firm’s price target on Shopify to $1,225 from $1,000 and keeps a Neutral rating on the shares. The firm’s Q4 checks have come back with median growth at ~94% y/y, Aftahi says. The analyst would not be surprised if results approached $1B in sales. Aftahi remains positive on Shopify’s fundamental story, but neutral on valuation.
On January 14, 2021, Oppenheimer analyst Koji Ikeda upgraded Shopify to Outperform from Perform with a $1,300 price target, implying 10% upside from the current price. While the stock has been a big winner since its initial public offering in 2015, there is still upside from here as the shift to digital commerce is accelerating and has been catalyzed by the COVID-19 pandemic, Ikeda tells investors in a research note. The angsty believes Shopify is a digital commerce category “leader, disruptor, and share gainer for the long-term.” Ikeda’s research suggests that the global commerce total addressable market will reach $255B by 2025, expanding 330% from the 2020 estimate of $59B.
On January 11, 2021, KeyBanc analyst Josh Beck raised the firm’s price target on Shopify to $1,300 from $1,250 and keeps an Overweight rating on the shares. The analyst is more constructive on Shopify’s opportunity to expand its brick-and-mortar presence providing a re-vamped product offering, a surge in omnichannel demand in the wake of COVID-19 and associated rising importance of features like multi-location inventory, and $10T-plus TAM based on 200M-plus global SMBs with leading cloud players market share only approaching about 1%, suggesting a “massive untapped market opportunity” and benign competitive environment.
On January 7, 2021, Shopify has taken ecommerce websites run by the Trump campaign and Trump Organization offline following Wednesday’s riot in Washington, D.C., The Wall Street Journal reports. Source: https://www.wsj.com/articles/shopify-takes-trumpstore-com-offline-in-response-to-riot-11610035673
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