Vetr Is Bullish On Shopify Despite Citron Hit
The Vetr crowd on Thursday upgraded its rating on Shopify Inc. (NYSE: SHOP) from 4 stars (Buy), issued six days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the downgrade was mostly positive, with 85 percent of Vetr user ratings bullish.
Share price in Shopify took a nose dive Wednesday following a report from Andrew Left's Citron Research that lambasted the company and put it at a $60 price target. Over the course of that day, the stock lost 13.75 percent. Shopify opened Thursday's market to fall to a low of 93.66 before gaining some momentum and finishing the day up at $100.43.
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Currently, the Vetr crowd's average price target for Shopify is up at $128.14, which is more than twice the average analyst price target of $61.60. Less than 2 percent of Vetr users are holding SHOP in their watch-lists.
Latest Ratings for SHOP
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 2017 | DA Davidson | Initiates Coverage On | Neutral | |
| Aug 2017 | Barclays | Maintains | Equal-Weight | |
| Jul 2017 | Benchmark | Initiates Coverage On | Hold |
View More Analyst Ratings for SHOP
View the Latest Analyst Ratings
Posted-In: Andrew Left Citron ResearchShort Sellers Upgrades Price Target Crowdsourcing Analyst Ratings General
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