Shopify price target raised to $130 from $100 at RBC Capital

RBC Capital analyst Paul Treiber raised the firm’s price target on Shopify (SHOP) to $130 from $100 and keeps an Outperform rating on the shares. The company reported solid Q3 results and guided Q4 ahead of consensus, driving a 22% stock rally on materially improved investor visibility to long-term growth and margins, the analyst tells investors in a research note. Shopify is seeing broad-based market share gains and positive leading indicators across numerous segments, the firm added.