Shopify price target raised to $180 from $179 at JPMorgan

JPMorgan raised the firm’s price target on Shopify (SHOP) to $180 from $179 and keeps an Overweight rating on the shares. The firm cites positive estimate revisions post the earnings report for the target bump. Shopify’s volume growth accelerated sequentially in Q3, but a spike in transaction losses weighed on the Q4 free cash flow margin outlook, the analyst tells investors in a research note. JPMorgan points out that Shopify has not seen a material change in intra-quarter spend trends while the increase in losses “sounds treatable.”