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Shopify (SHOP), a provider of cloud-based e-commerce platforms, soared Thursday as Wedbush analyst Gil Luria initiated coverage with an outperform rating and price target of 25. Luria said the company’s strong product and channel integration with Amazon.com (AMZN), eBay (EBAY), Facebook (FB) and Twitter (TWTR) distinguishes it from the competition. Luria said Shopify’s payments business will generate as much value for the firm as PayPal (PYPL) did Scalper1 News
Scalper1 News