Benchmark lowered the firm’s price target on Shopify (SHOP) to $125 from $150 and keeps a Buy rating on the shares. Ahead of Shopify reporting Q1 earnings on Thursday, May 8, the firm is “cautiously optimistic” that Shopify’s global share take position, and its generally higher income demo, can partially offset macro and tariff0related weakness. However, the firm reduced estimates ahead of the report, the analyst tells investors in a preview.
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