RBC Capital Cuts Shopify's Price Target By 23%

Shopify Inc SHOP SHOP price target has been lowered to $1000 (an upside of 116%) from $1300 by RBC Capital analyst Paul Treiber.
The analyst maintained the Outperform rating on the shares.
The analyst states that the proposed changes to Shopify’s share structure may be contentious.
Treiber adds that while some terms in the proposal are generous, the benefit to shareholders of ensuring that Shopify remains founder-controlled outweighs the risks.
The analyst believes shareholder ratification of SHOP’s proposal increases the probability that Shopify may achieve its long-term aspirations and ultimately maximize long-term shareholder value.
Stifel analyst Scott Devitt lowered the price target to $800 from $1,000 and maintained the Buy rating on the shares.
Devitt is cautious about Q1 results and Q2 projections ahead of the report, citing a weakening macro environment and rising inflation indicators.
The analyst expects Q1 and FY22 GMV, revenue, and adjusted net income to be below consensus.
Price Action: SHOP shares are trading higher by 0.07% at $460.97 on NYSE and by 0.50% at C$588.00 on TSX on Monday's last check.

Momentum86.69

Growth97.07

Quality75.95

Value10.53

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