William Blair Thinks Shopify’s Stock is Going to Recover

In a report issued on July 27, Matthew Pfau from William Blair maintained a Buy rating on Shopify (SHOPResearch Report). The company’s shares closed last Tuesday at $37.74, close to its 52-week low of $29.72.

According to, Pfau has 0 stars on 0-5 stars ranking scale with an average return of -9.8% and a 34.1% success rate. Pfau covers the Technology sector, focusing on stocks such as Manhattan Associates, BigCommerce Holdings, and ChannelAdvisor.

Currently, the analyst consensus on Shopify is a Moderate Buy with an average price target of $43.38, a 21.5% upside from current levels. In a report issued on July 27, Evercore ISI also maintained a Buy rating on the stock with a price target.

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Based on Shopify’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.3 billion and GAAP net loss of $1.2 billion. In comparison, last year the company earned revenue of $1.12 billion and had a net profit of $879 million.

Based on the recent corporate insider activity of 221 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.

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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.

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