Stock Market
3 Reasons to Sell Shopify Stock, According to an Analyst
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Shopify
has had a challenging year, and UBS doesn’t see a much brighter future for the e-commerce software company.
UBS analyst Kunal Madhukar initiated coverage of
Shopify
(ticker: SHOP) with a Sell rating and a 12-month price target of $30. Madhukar listed three reasons for his bearish view of Shopify, including the risks of a potential recession,
Amazon
‘s Buy With Prime competition, and near-term company spending levels.
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