Wedbush lowered the firm’s price target on Shopify (SHOP) to $160 from $185 and keeps an Outperform rating on the shares. The firm says Shopify reported healthy Q4 results and provided an encouraging Q1 outlook. Management expects gross profit dollars to grow in the high 20s range year-over-year next quarter, ahead of expectations for growth of 24.3%.
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Read More on SHOP:
- Shopify price target lowered to $126 from $181 at Cantor Fitzgerald
- Shopify price target raised to $160 from $150 at BMO Capital
- Shopify price target lowered to $160 from $180 at Baird
- Shopify price target lowered to $130 from $140 at Barclays
- Shopify price target lowered to $146 from $180 at JPMorgan