Shopify (SHOP) PT Raised to $1,800 at Jefferies
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Jefferies analyst Samad Samana raised the price target on Shopify (NYSE: SHOP) to $1,800.00 (from $1,675.00) while maintaining a Buy rating.
The analyst commented, "SHOP's 2Q results experienced an expected deceleration, but still nicely beat consensus. A few incremental takeaways after the call were: 1) the take rate benefited from SHOP's strategic investments, but still would have beaten our estimates; 2) Shop Pay GPV is accelerating sharply; and 3) SHOP is investing as aggressively as ever behind growth. While shares may take a breather after the recent rally, we see SHOP as a core LT growth holding. Raise PT to $1,800."
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