Shopify price target lowered to $95 from $100 at Truist

Truist lowered the firm’s price target on Shopify (SHOP) to $95 from $100 and keeps a Hold rating on the shares. The company executed well in Q1, with higher than expected results coming in higher than estimates across the top and bottom lines, though the level of confidence on business trends and continued momentum was still somewhat surprising considering tariffs, macro, etc, the analyst tells investors in a research note.