Shopify price target raised to $80 from $72 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on Shopify to $80 from $72 and keeps an Outperform rating on the shares. The firm came away from Shopify’s Investor Day event incrementally confident in the business’ multiple levers to sustain GMV, revenue and attach rate growth in 2024 and beyond, the analyst tells investors in a research note.