Shopify price target raised to $145 from $130 at RBC Capital

RBC Capital raised the firm’s price target on Shopify (SHOP) to $145 from $130 and keeps an Outperform rating on the shares. The company reported solid Q4 results, with revenue exceeding consensus more than typical, as Shopify is seeing strong market share gains in key segments, the analyst tells investors in a research note. The company’s Q1 and FY25 margin guidance were slightly below consensus, but this did not weigh on investor sentiment, RBC adds.