Shopify Stock Gets Another Buy Rating After Recent Pullback
Shopify was rising Friday after an analyst at Evercore ISI said now was the time to buy stock in the e-commerce company with shares down this year. Evercore’s Mark Mahaney upgraded Shopify to Outperform from In-Line and gave the stock a $75 price target, implying a 16% increase from the stock’s closing price of $64.69 on Thursday. The analyst wrote in a research note that the recent pullback in the stock provides an attractive entry point.