Amazon’s Buy with Prime puts up to 14% of Shopify revenue at risk, says UBS

UBS analyst Kunal Madhukar keeps a Sell rating and $34 price target on Shopify (SHOP) while noting that Amazon’s (AMZN) Buy with Prime could result in 6%-14% of the company’s revenue being at risk, which translates into 2%-6% of gross profits at risk. While the actual impact could be lower depending on merchant and consumer adoption, this is a risk investors should track as it can dampen Shopify’s revenue growth, the analyst tells investors in a research note.