Shopify price target raised to $100 from $93 at Barclays

Barclays raised the firm’s price target on Shopify (SHOP) to $100 from $93 and keeps an Equal Weight rating on the shares. The company reported a “solid” Q4 beat, though the Q1 revenue guidance was light on forex headwinds, three-month trials, and operating expense growth picking up a bit, tempering the margin, the analyst tells investors in a research note. The firm added that Shopify continues to have a “very strong” fundamental story, though it is unclear if the lofty valuation holds up, particularly as revenue growth may decelerate further on tough second half comparisons.