Shopify shares have dropped more than 20% in the wake of disappointing earnings commentary. Shares of Shopify Inc. nabbed an upgrade Tuesday as a D.A. Davidson analyst sees an “attractive entry point” into a name that’s been crunched in the wake of earnings. Shopify’s stock SHOP, 2.05% has fallen 22% since the e-commerce company earlier this month posted fourth-quarter earnings, which came with a disappointing forecast for the current quarter . The magnitude of the selloff seems “overdone,” in the view of D.A. Davidson’s Gil Luria. See more: Shopify stock suffers one of its worst days yet as Wall Street wonders what is to come “Now that the dust has settled post-4Q22 earnings call, we believe current consensus could prove conservative and a return to small losses is a fleeting issue,” Luria wrote in a note to clients, as he bumped up his rating on the stock to buy from neutral. He dubbed Shopify “one of the most important software companies given its leadership in a nearly boundless TAM,” or total addressable market. Luria is upbeat about Shopify’s ability to drive growth in subscription revenue on the back of price increases. The price hikes Shopify announced in January could […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
