Roth MKM analyst Darren Aftahi raised the firm’s price target on Shopify (SHOP) to $136 from $135 and keeps a Buy rating on the shares after Q4 results outperformed expectations, driven by strong enterprise adoption and accelerating gross merchandise volume growth. Shopify guided to Q1 growth in the mid-20% range with mid-teens free cash flow margins, both in line with expectations, says the analyst, who adds that AI investments support growth and should enhance long-term free cash flow.
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- Shopify Q4 results appear ‘strong’ on first look, says Jefferies
- SHOP Earnings: Shopify Stock Falls on Unimpressive Q1 Guidance
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