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Motley Fool
Why Shopify Stock Got Clobbered Early Monday
KeyBanc analyst Josh Beck lowered his price target on Shopify from $50 to $45 while simultaneously maintaining his overweight (buy) rating on the stock, according to The Fly. The analyst has been reading the digital tea leaves and studying various proxies for Shopify’s gross merchandise volume (GMV) and gross payment volume (GPV) — the most widely followed measures of the company’s success. While Shopify’s growth is certainly worth watching, it’s best if we wait to hear the actual number from the company rather than relying on estimates.
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