Canaccord lowered the firm’s price target on Shopify (SHOP) to $145 from $165 and keeps a Buy rating on the shares. The firm said Shopify delivered another exceptional print: 32% constant-currency revenue growth, 35% GMV growth, and its fourth consecutive quarter of 30%+ growth alongside mid-teens FCF margins and where the longer term thesis only looks more entrenched in their view.
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Read More on SHOP:
- Shopify Inc. Earnings Call Signals AI-Fueled Surge
- Shopify price target lowered to $140 from $150 at Jefferies
- Shopify Buy Rating Reaffirmed as Strong Q1 and Underappreciated Growth Offset Market Concerns
- Arjun Bhatia Reiterates Buy on Shopify, Citing Sustained 30%+ Growth, Strong FCF Margins, and Long-Term Advantage in Emerging Agentic Commerce
- Shopify price target lowered to $150 from $165 at Piper Sandler