Shopify Inc.’s inventory has greater than doubled to date in 2023, however a Piper Sandler analyst is skeptical that it could actually proceed its monster run.
Piper’s Clarke Jeffries downgraded Shopify’s inventory SHOP to underperform from impartial Tuesday, warning of an “untenable valuation” in mild of “too aggressive” expectations for progress and revenue going ahead.
“Macro,…
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