Shopify continues growing

July 5, 2021

Paul Treiber, an expert in the field, reiterated an "Outperform" on Shopify's shares and raised the price target from $1,500 to $1,700.

RBC reiterated its Outperform rating on Shopify (SHOP.US) and raised its price target to $1700。

The bank's analyst Paul Treiber believes that while there were no high-profile new product announcements at the Shopify Unite conference last week, Shopify's creation of a robust developer ecosystem is the company's most important strategic priority. "A robust ecosystem will better enable Shopify to address the long tail of global business use cases and potential markets." He believes market trends may once again tilt in Shopify's favor.

So some of the high-flying companies in 2020 have seen momentum start again, and Shopify (shop) is one of the names being built. In the past few months, the company's earnings have increased again, with recent share prices reaching a record high. Shares hover below this peak, which will soon exceed, according to a recent assessment by Paul Treiber of the Royal Bank of Canada.

【Source text: by report】

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