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.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
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.