Shopify's share price slump offers entry point ahead of earnings release, with 3 Wall Street firms upgrading ratings to buy since Feb.

Shopify's share price slump has set up a compelling entry point for investors ahead of its earnings release, according to three new Wall Street bulls. Down 15% from its February peak, the company has the most buy ratings since 2022, with BNP Paribas SA, Citigroup SA, and Morgan Stanley upgrading their ratings to buy-equivalent in the past month. Despite a 120% rally last year, the e-commerce giant's shares have struggled, creating an opportunity for traders to potentially benefit from the upcoming earnings report.

May 07, 2024
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