Shopify Stock-Price Target Gutted by Analysts on Slower Growth

Bloomberg2022-02-18

Canadian e-commerce company Shopify Inc. had the average price target on its shares slashed to the lowest level since January 2021 after it signaled slower sales growth.More than 20 analysts cut their...

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Comments

SvdB
2022-02-18
SvdB
Ok
rytb8181
2022-02-18
rytb8181
Nice
BabySim
2022-02-18
BabySim
Ok
BabySim
2022-02-18
BabySim
Ok
CharlesW
2022-02-18
CharlesW
Opportunity for those that want to get SHOP
Ken3888
2022-02-18
Ken3888
Ok

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Shares extended their slump Thursday.Shopify’s business surged during the pandemic, with sales jumping 86% in 2020 as shoppers moved online. It became Canada’s most valuable company by market capitalization, overtaking $Royal Bank of Canada(RY-T)$. It surrendered that position in December amid a broader tech selloff, and as shoppers returned to brick-and-mortar stores.Last month, Shopify said it had canceled warehouse and fulfillment-center contracts, pushing shares to a 16-month low. 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