-9 C°
Traffic jam:   1

FedEx shares and purchase of ShopRunner platform

4 December 2020
2 min.
FedEx shares and purchase of ShopRunner platform

Great prospects

FedEx plans to hire 70,000 temporary workers for the holiday season and also intends to purchase the e-commerce platform ShopRunner, which may partially offset the loss of a customer like Amazon.

Shares of the largest U.S. logistics company FedEx (FDX) increased by 28% in the last quarter and by almost 93% since the beginning of 2020.

12 investment companies have increased their target prices/rating in relation to FedEx shares. The latest increase in FedEx shares was received from Barclays on Tuesday, which raised their rating from "neutral" to "outperform" and their target price from $240 to $360.

One Barclays analyst said that the rise in e-commerce is providing FedEx with "many opportunities for growth". According to him, FedEx's terrestrial network "provides the lowest last-mile delivery cost among large private" delivery services in the United States. To match the surge in shipments during the holiday season, FedEx and its UPS rival announced plans to hire 70,000 and 100,000 temporary workers.

At the same time, a Barclays analyst warned that short-term trading in FedEx shares can be highly volatile, given the multidirectional actions of investors against the backdrop of news of strong online retail sales and the COVID-19 vaccine. However, long-term investors should keep an eye on the market trends of the industry in which FedEx dominates, showing better results than its competitor UPS.

Buying FedEx

On Wednesday, FedEx announced that it intends to purchase ShopRunner, which offers American customers a paid service with a one-year subscription that provides free two-day delivery for online shopping in more than 100 online shops (from cars and electronics to jewellery and clothing). Other benefits include discounts and an increased online shopping cacheback.

These advantages of ShopRunner are similar to what Amazon (AMZN) offers through its Prime subscription service.

President and Chief Operating Officer of FedEx Rajesh Subramaniam said: "This acquisition is in line with our ongoing efforts to create an open, collaborative e-commerce ecosystem that helps sellers ensure smooth operation for their customers".

Persons1 and Companies4 in the news

President and chief operating officer of FedEx


Rating companies
119 Mention
98 Mention
92 Mention
85 Mention
Dow Jones
83 Mention
73 Mention
51 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year