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Shopify Stock Is Soaring. It’s at an ‘Attractive Entry Point,’ Says New Bull.

Shopify Stock Is Soaring. It’s at an ‘Attractive Entry Point,’ Says New Bull.

Shopify stock was climbing Monday after an analyst upgraded shares of the e-commerce platform on confidence in growth. Citi analyst Tyler Radke upgraded shares of Shopify to Buy from Neutral, and increased his target price to $105 from $93, which implies a 47% increase in the stock price as of Friday’s close. “Our Deep-Dive analysis into SHOP’s Merchant Solutions business gives us confidence in SHOP’s long-term growth,” Radke wrote in a research note.