Chart of Day: Shopify (SHOP) – 6/18

“After plummeting from about $77.50 to a low of $60.64 on weak guidance, Shopify (SYM: SHOP) has become incredibly oversold. Helping, analysts at JMP Securities just upgrade the stock to an outperform rating, with a price target of $80,” we said on May 10.


“Our upgrade is driven by the potential for new merchant cohorts to contribute in 2025 and beyond, Plus, subscription price increases coming on in 2H24, and our belief that the company remains a best-in-class eCommerce platform that is taking share and has multiple adjacencies across financial services, advertising, and merchant services,” said the firm, as quoted by CNBC.

At the time, SHOP traded at around $59 a share.

With a good amount of fear now priced into the SHOP stock, it’s finally starting to pivot higher. Last trading at $67.66, we’d like to see SHOP refill its bearish gap at around $77.50 near term.

deal of the month

best growth stocks


Bundle package – lifetime subscriptions for all products


Recent posts


Connect with Us

Get FREE Daily Stock Tips

Join and receive market insider stock picks, trade alerts and unique investing insights
This field is for validation purposes and should be left unchanged.
By clicking the "Subscribe" button you are accepting our Terms of Use and Privacy Policy.

Join Waitlist

We’re sorry, but due to the popularity of our services, we have reached our max number of subscribers and are not currently accepting more. If spots become available, we will be sure to contact you. Please join the waitlist below.
Thank You!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.