TECH - Shopify Has Competitive Moat That Warrants Premium Valuation: JP Morgan Analyst | Benzinga
JP Morgan analyst Reginald Smith initiated coverage on Shopify Inc (NYSE:SHOP) with an Overweight rating and a price target of $74.
As per Smith, Shopify is one of the largest publicly traded payment facilitators with a solid competitive moat that warrants a premium valuation.
According to the analyst, Shopify's product breadth, ease of use, and scale are distinct competitive advantages that will continue to fuel industry-leading growth.
Smith modeled 18% compounded revenue growth through fiscal 2026 as Shopify benefits from the secular shift toward e-commerce and scales growth initiatives.
The recent pullback creates an attractive entry opportunity for new investors.
Smith sized Shopify's global serviceable e-commerce GMV opportunity ex ...