Shopify (SHOP): New Buy Recommendation for This Technology Giant markets.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from markets.co Daily Mail and Mail on Sunday newspapers.
Shopify Drops App Store Commissions To 0% For Developers First $1 Million In Revenue
06/29/21 AT 7:46 PM
Canada-based Shopify (SHOP), an e-commerce platform that serves independent retailers, announced Tuesday that it will lower the amount of the share they take for using its app in a move that follows the lead of tech titans Apple, Google, Microsoft and Amazon.
Shopify will offer developers 100% of their revenue from the first $1 million they make through its app.
“We help people achieve independence by making it easier to start, run, and grow a business. We believe the future of commerce has more voices, not fewer, so we’re reducing the barriers to business ownership to make commerce better for everyone, the company said.
Markets
In a report released today, Scott Devitt from Stifel Nicolaus maintained a Buy rating on Shopify (SHOP – Research Report), with a price target of $1400.00. The company’s shares closed last Wednesday at $1275.00.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 35.5% and a 71.8% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.
Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $1454.00, which is a 19.5% upside from current levels. In a report issued on April 14, Robert W. Baird also maintained a Buy rating on the stock with a $1600.00 price target.
Shopify (SHOP) Receives a Hold from Guggenheim analystratings.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from analystratings.com Daily Mail and Mail on Sunday newspapers.
Markets
In a report released yesterday, Kenneth Wong from Guggenheim maintained a Hold rating on Shopify (SHOP – Research Report). The company’s shares closed last Tuesday at $1123.01.
According to TipRanks.com, Wong is a 4-star analyst with an average return of 23.7% and a 66.7% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Guidewire, and Zendesk.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $1468.78 average price target, representing a 29.1% upside. In a report issued on April 5, Credit Suisse also initiated coverage with a Hold rating on the stock with a $1350.00 price target.