Shopify price target raised to $110 from $90 at Loop Capital

Loop Capital raised the firm’s price target on Shopify (SHOP) to $110 from $90 and keeps a Hold rating on the shares. The company’s Q3 results saw a significant sequential acceleration in revenue growth from Q2 and robust operating margin expansion, while its top-line growth was even more impressive given the fact it was more than double the rate of sales and marketing expense growth, the analyst tells investors in a research note.