The downward dive of Shopify (NYSE:SHOP)(TSE:SHOP) stock from the pandemic highs raises concerns. The massive decline in the shares of this Canada-based e-commerce giant has shaken investors' confidence. While the current valuation suggests a good buying opportunity, analysts remain cautiously optimistic as near-term margin headwinds could remain a drag. Let's take a deeper look at the stock to ascertain what's in the offing. Wall Street’s Stance on Shopify The Wall Street analysts have a mixed opinion on Shopify. Recently, Morgan Stanley analyst Keith Weiss decreased the price target on Spotify to $40 (48.48% upside potential) from $44 but reiterated a Hold rating.
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Shopify (NYSE:SHOP)
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Shopify (NYSE:SHOP)
Historical Stock Chart
From Dec 2021 to Dec 2022 Click Here for more Shopify Charts.