Goldman Sachs Maintains Neutral Rating for Shopify: Here's What You Need To Know

Goldman Sachs has decided to maintain its Neutral rating of Shopify SHOP and raise its price target from $40.00 to $59.00.

Shares of Shopify are trading up 7.63% over the last 24 hours, at $61.67 per share.

A move to $59.00 would account for a 4.33% decline from the current share price.

About Shopify

Shopify Inc. offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments Subscription Solutions and Merchant Solutions. The Subscription Solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. Merchant solutions are add-on products for the platform that facilitate e-commerce and include Shopify Pay, Shopify Shipping, and Shopify Capital.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.