Shopify price target lowered to $110 from $140 at Wedbush

Wedbush analyst Scott Devitt lowered the firm’s price target on Shopify (SHOP) to $110 from $140 and keeps an Outperform rating on the shares as part of a Q1 preview for the internet sector. Significant uncertainty has been introduced to the economy given ongoing macro concerns, potential tariff implications, and weaker consumer confidence levels both in the U.S. and internationally, the analyst tells investors in a research note. Ahead of the Q1 results, Wedbush broadly reduced 2025 estimates and price targets, citing limited visibility into current economic conditions, and the potential implications of a weaker demand environment. The firm wants to hear from management teams in the coming weeks “to gain better clarity than the current dense fog.”