Will Shopify Quadruple Sales By 2025?

Shopify (NYSE: SHOP) will likely quadruple sales on its e-commerce platform over the coming five years, according to Piper Sandler analyst Brent Bracelin. The analyst cited "early signals that COVID-19 could drive a permanent structural industry change to consumer purchasing behavior." 

As a result, Bracelin upgraded Shopify stock on Monday to overweight (buy) from neutral (hold), and raised his price target to $843, up from its previous level of $733. That represents an implied upside of 14% from the stock's closing price on Friday.

Image source: Getty Images.

Continue reading

Source Fool.com