Cantor Fitzgerald Reiterates Neutral Rating on Shopify (SHOP) Amid 103% Rally and Strong Cross-Border Growth

Shopify Inc. (NASDAQ:SHOP) is one of the best tech stocks to buy, according to Cathie Wood. On August 27, Cantor Fitzgerald reiterated a ‘Neutral’ rating on the stock and a $156 price target. The neutral stance follows the stock’s impressive 103% gain over the past year.

Likewise, Cantor Fitzgerald remains confident about the company’s outlook amid growing cross-border transaction volumes. In the second quarter, border merchandise represented about 15% of the company’s total GMV. Similarly, only 4% of the global gross merchandise volume was shipped under the de minimis provision, which is an exemption from duties and taxes.

The fact that Shopify has yet to see any negative changes in GMV levels related to products shipped under the de minimis exemption for China underlines a booming retail sector. The de minimis provision exempted goods valued at under $800 million from duties and taxes.

Shopify Inc. (NASDAQ:SHOP) is a global e-commerce company that provides businesses with the internet infrastructure and tools to start, manage, and grow their businesses online. The platform offers features for creating online stores, accepting payments, managing inventory, and marketing products.

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Disclosure: None. This article is originally published at Insider Monkey.