Why Shopify Stock Jumped on Friday

·2 min read
Why Shopify Stock Jumped on Friday

While a rebound in technology stocks certainly added fuel to its ascent, the e-commerce platform provider was also on the receiving end of positive commentary from not one, but two Wall Street analysts. SMBC Nikko analyst Andrew Bauch initiated coverage of Shopify, assigning an outperform (buy) rating, while simultaneously issuing a $1,200 price target.

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