HomeInvestingTechnical AnalysisShopify's (SHOP) A.I. Enthusiasm Leads To Price Hike

Shopify's (SHOP) A.I. Enthusiasm Leads To Price Hike

Shopify's (SHOP) price target was raised to $65 from $55 by Mizuho and keeps its neutral rating. The Mizuho analyst expects beat and raise quarters from the software-as-a-service sector, as well as how a stabilizing macro environment coupled with investors’ enthusiasm around A.I. have driven the re-rating of the sector. Alex Coffey and Jenny Horne discuss SHOP as the name has been beaten down, but is now on the recovery. Alex then demonstrates an example trade using SHOP. The trade type is buy call calendar and the direction is bullish. Tune in to find out more about the stock market today.

Next Gen Investing

24 Jul 2023

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