Roth Capital: Lowered Shopify's target price from US$1800 to US$1650

$Shopify (SHOP.US)$ Roth Capital lowered the Shopify target price from US$1800 to US$1650. Its analyst Darren Aftahi maintained a buy rating on the stock, calling Shopify a "strong growth story." However, due to multiple compressions in the e-commerce field, although Shopify "can be said to be a different animal with a SaaS perspective," he is not optimistic about the stock. Aftahi believes that as growth slows, valuations will show a downward trend.

Shopify's average seller target price is $1,696, and 25 of 44 analysts rate the stock as "buy."

Article excerpted from the US Stock Research Agency