Loop Capital raised the firm’s price target on Shopify (SHOP) to $110 from $90 and keeps a Hold rating on the shares. The company’s Q3 results saw a significant sequential acceleration in revenue growth from Q2 and robust operating margin expansion, while its top-line growth was even more impressive given the fact it was more than double the rate of sales and marketing expense growth, the analyst tells investors in a research note.
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Read More on SHOP:
- Shopify price target raised to $135 from $85 at CIBC
- Shopify price target raised to $115 from $80 at Scotiabank
- Shopify price target raised to $110 from $65 at Truist
- Shopify price target raised to $94 from $67 at Piper Sandler
- Shopify price target raised to $125 from $80 at Canaccord
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