Analysts were busy this week, upgrading, changing price targets, and initiating coverage of a variety of companies.
The human-resources-software platforms Workday (WDAY) - Get Workday, Inc. (WDAY) Report and Paycom (PAYC) - Get Paycom Software, Inc. Report were upgraded by Stifel analyst Brad Reback to buy from hold. The analyst raised his share-price target for Workday to $275 from $227, while boosting Paycom's target price to $365 from $250.
Snap (SNAP) - Get Snap, Inc. Class A Report was raised to buy from neutral and Spotify Technology (SPOT) - Get Spotify Technology SA Report to neutral from sell by Guggenheim analyst Michael Morris. The analyst raised his price target for the stock of both companies, Snap to $28 from $22 and Spotify to $250 from $232.
Shopify (SHOP) - Get Shopify, Inc. Class A Report was upgraded to outperform from neutral. Wedbush analyst Ygal Arounian raised his price target on shares of the e-commerce software-and-services provider to $1,300 from $998.