Jefferies analyst Samad Samana lowered the firm’s price target on Shopify (SHOP) to $140 from $150 and keeps a Hold rating on the shares following “strong” Q1 results. While robust in absolute terms, the guidance implies a deceleration on tougher comps, which will likely be a short-term overhang for the stock, the firm told investors in a research note. Jefferies added that the long-term thesis remains unchanged.
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