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Rosenblatt Securities Stick to Their Buy Rating for Shopify

November 30, 2020
Mark Zgutowicz
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Investing.com

Rosenblatt Securities analyst Mark Zgutowicz reiterated a Buy rating on Shopify (NYSE:SHOP) on Monday, setting a price target of $1400, which is approximately 35.35% above the present share price of $1034.39.

Zgutowicz expects Shopify to post earnings per share (EPS) of $1.59 for the fourth quarter of 2020.

The current consensus among 20 TipRanks analysts is for a Moderate Buy rating of shares in Shopify, with an average price target of $1168.14.
The analysts price targets range from a high of $1400 to a low of $950.

In its latest earnings report, released on 09/30/2020, the company reported a quarterly revenue of $767.41 million and a net profit of $50.56 million. The company's market cap is $124.29 billion.

According to TipRanks.com, Rosenblatt Securities analyst Mark Zgutowicz is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 53.5% and a 82.80% success rate.

Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm's platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. It focuses on merchant and subscription solutions. The company was founded by Tobias Albin Lütke, Daniel Weinand and Scott Lake on September 28, 2004 and is headquartered in Ottawa, Canada.

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