Shopify price target raised to $145 from $125 at Oppenheimer

Oppenheimer raised the firm’s price target on Shopify (SHOP) to $145 from $125 on lower tariff risks, higher top-line confidence, and multiple, while keeping an Outperform rating on the shares. The firm says sentiment is positive with 3P data showing gross merchandise value should come in a couple of points above Street, offset by lighter MRR dynamics. Oppenheimer sees a modest top-line beat with 3P data pointing to a slight outperformance, high-30%s OpEx mix, and free cash flow margin slightly ahead of consensus, with any potential revenue beat hitting profitability.