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Technology

Analysts Chop Shopify Targets as E-Commerce Growth Slows

  • Average share price forecast is at the lowest point since July
  • The tech darling was dethroned as Canada’s most valuable firm
A broader tech selloff has ended Shopify’s run as Canada’s most valuable public company. 

A broader tech selloff has ended Shopify’s run as Canada’s most valuable public company. 

Photographer: Andrew Harrer/Bloomberg

Analysts have pushed their price targets on Shopify Inc. to the lowest level since July after a swift and brutal correction in richly-valued technology stocks. 

The Canadian e-commerce firm has plunged 37% and lost more than $75 billion in market value since Nov. 19 amid a broader tech selloff, ending its run as the country’s most valuable public company.