Inside the Market’s roundup of some of today’s key analyst actions
The analyst said the Ottawa-based ecommerce firm’s merchant additions in the second quarter were a “key driver of higher transaction volumes as many traditional brick & mortar retailers were forced to quickly establish online channels.” He now sees a “high likelihood” those gains will continue into the third quarter.
Story continues below advertisement
“We have re-oriented our model to reflect a more ‘real-time’ view of bottoms-up merchant activity, which gives us incremental confidence in SHOP’s ability to sustain recent elevated pace of growth,” he said. “Street estimates appear artificially low, especially on the transactional side, implying sequential declines in Q3 despite favorable GMV [gross merchandise volume] capacity dynamics outlined in our note below. Citi’s Street-high …