- Shopify Inc (NYSE:SHOP) (TSX:SHOP) price target has been lowered to $1000 (an upside of 116%) from $1300 by RBC Capital analyst Paul Treiber.
- The analyst maintained the Outperform rating on the shares.
- The analyst states that the proposed changes to Shopify’s share structure may be contentious.
- Treiber adds that while some terms in the proposal are generous, the benefit to shareholders of ensuring that Shopify remains founder-controlled outweighs the risks.
- The analyst believes shareholder ratification of SHOP’s proposal increases the probability that Shopify may achieve its long-term aspirations and ultimately maximize long-term shareholder value.
- Stifel analyst Scott Devitt lowered the price target to $800 from $1,000 and maintained the Buy rating on the shares.
- Devitt is cautious about Q1 results and Q2 projections ahead of the report, citing a weakening macro environment and rising inflation indicators.
- The analyst expects Q1 and FY22 GMV, revenue, and adjusted net income to be below consensus.
- Price Action: SHOP shares are trading higher by 0.07% at $460.97 on NYSE and by 0.50% at C$588.00 on TSX on Monday's last check.
