Shopify price target raised to $150 from $140 at Loop Capital

Loop Capital raised the firm’s price target on Shopify (SHOP) to $150 from $140 and keeps a Buy rating on the shares. The company released better-than-expected Q4 results earlier this week, and the firm has revisited its valuation analysis, the analyst tells investors in a research note. The firm concluded that Shopify currently trades at sizable discounts to the average valuations of its peers on an enterprise value to revenue basis and to historical average levels, Goldman Sachs added.