Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Shopify (SHOP) Stock Price
Media stories about Shopify (NYSE:SHOP) (TSE:SHOP) have trended somewhat positive on Monday, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Shopify earned a news sentiment score of 0.16 on Accern’s scale. Accern also assigned press coverage about the software maker an impact score of 45.7428774894024 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Accern Sentiment’s analysis:
- Shopify Inc.: Why Shares May Correct to $90 Before the Next Sustained Rally (ca.finance.yahoo.com)
- Here’s Why Not to Buy Shopify Inc Stock on the Dip (investorplace.com)
- Should Shopify Inc. Investors Shop Elsewhere this Christmas? – Baystreet.ca (baystreet.ca)
- Remarkable stocks – Shopify Inc., (NYSE: SHOP), Norfolk Southern Corporation, (NYSE: NSC) – Stocks In The News (press release) (tradingnewsnow.com)
- Shopify Inc.: Should You Buy the December Dip? – The Motley Fool Canada (fool.ca)
SHOP has been the topic of several recent research reports. Monness Crespi & Hardt raised Shopify from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $110.00 target price on shares of Shopify in a research note on Tuesday, September 5th. KeyCorp reaffirmed an “overweight” rating and set a $140.00 target price (up previously from $116.00) on shares of Shopify in a research note on Monday, November 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $110.00 target price on shares of Shopify in a research note on Thursday, October 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $109.00 target price on shares of Shopify in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $102.56.
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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