Scotiabank raised the firm’s price target on Shopify (SHOP) to $120 from $115 and keeps a Sector Perform rating on the shares. North American GMV strength led to outperformance in Q4, which was evident across several areas including merchant solutions and subscription revenue, the analyst tells investors. While free cash flow margins were strong, outlook implicates no expansion will occur in 2025, the firm adds.
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Read More on SHOP:
- Shopify price target raised to $120 from $110 at Truist
- Shopify price target raised to $150 from $130 at DA Davidson
- Shopify price target raised to $144 from $126 at Morgan Stanley
- Shopify price target raised to $145 from $130 at RBC Capital
- Shopify price target raised to $135 from $120 at Wells Fargo
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