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Shopify (SHOP) Receives a Hold from Credit Suisse

In a report released today, Timothy Chiodo from Credit Suisse maintained a Hold rating on Shopify (SHOPResearch Report), with a price target of $525.00. The company’s shares closed last Friday at $389.73.

According to TipRanks.com, Chiodo is a 3-star analyst with an average return of 5.1% and a 38.1% success rate. Chiodo covers the Technology sector, focusing on stocks such as Fidelity National Info, AvidXchange Holdings, and Affirm Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $723.45 average price target, which is an 80.4% upside from current levels. In a report issued on May 3, Loop Capital Markets also maintained a Hold rating on the stock with a $460.00 price target.

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Based on Shopify’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.38 billion and GAAP net loss of $371 million. In comparison, last year the company earned revenue of $978 million and had a net profit of $124 million.

Based on the recent corporate insider activity of 280 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2004, Canada-based 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.

Read More on SHOP:

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