Shopify Will Surge 27% to $1,300, According to This Analyst

Shopify Will Surge 27% to $1,300, According to This Analyst

Shares of Shopify (NYSE: SHOP) have already climbed 237% over the past year, but will surge to new all-time highs in the coming year. On Wednesday, Arounian upgraded Shopify's stock to outperform (buy) from neutral (hold), while raising his price target from $998 to $1,300. Arounian pointed to ongoing changes in consumer behavior and the accelerating adoption of e-commerce as long-term drivers.