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Shopify (SHOP) Receives a Hold from Morgan Stanley

In a report released today, Keith Weiss from Morgan Stanley maintained a Hold rating on Shopify (SHOPResearch Report), with a price target of $44.00. The company’s shares closed last Thursday at $35.24, close to its 52-week low of $29.72.

According to TipRanks.com, Weiss is a 5-star analyst with an average return of 13.9% and a 62.0% success rate. Weiss covers the Technology sector, focusing on stocks such as Qualtrics International, ZoomInfo Technologies, and Palantir Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $63.74 average price target, implying an 83.7% upside from current levels. In a report released yesterday, Roth Capital also maintained a Hold rating on the stock with a $40.00 price target.

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Shopify’s market cap is currently $45.81B and has a P/E ratio of 222.05.

Based on the recent corporate insider activity of 224 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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