Shopify price target lowered to $100 from $120 at Stifel

Stifel lowered the firm’s price target on Shopify (SHOP) to $100 from $120 and keeps a Hold rating on the shares. The firm notes Shopify delivered a thinner top-line beat than in recent quarters, with margins gross merchandise value slightly below/in-line. Not surprisingly, the potential impact of tariffs was a big emphasis of the call and questions, Stifel adds.