Robert W. Baird Believes Shopify (NYSE: SHOP) Won’t Stop Here

In a report released yesterday, Colin Sebastian from Robert W. Baird maintained a Buy rating on Shopify (SHOPResearch Report). The company’s shares closed last Wednesday at $1425.00, close to its 52-week high of $1499.75.

According to TipRanks.com, Sebastian is a top 100 analyst with an average return of 39.2% and a 77.8% success rate. Sebastian covers the Technology sector, focusing on stocks such as Alphabet Class A, Playtika Holding, and Paypal Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $1333.26 average price target, implying a -3.7% downside from current levels. In a report issued on February 8, RBC Capital also maintained a Buy rating on the stock with a $1290.00 price target.

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The company has a one-year high of $1499.75 and a one-year low of $305.30. Currently, Shopify has an average volume of 1.34M.

Based on the recent corporate insider activity of 464 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.

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Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. It focuses on merchant and subscription solutions. The company was founded by Tobias Albin Lütke, Daniel Weinand and Scott Lake on September 28, 2004 and is headquartered in Ottawa, Canada.