Shopify Slump Seen as Entry Point For Traders Ahead of Earnings
- E-commerce firm’s shares have tumbled from a February peak
- Wall Street expects earnings to show turnaround progress
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A recent slump in Shopify Inc.’s share price has set up a compelling entry point for investors ahead of Wednesday’s highly-anticipated earnings release, according to three new Wall Street bulls.
Down 15% from a February peak, the shares currently have the most buy ratings since 2022. Analysts at BNP Paribas SA, Citigroup SA and Morgan Stanley upgraded their ratings to buy-equivalent in the past month.