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Benzinga
Benzinga
Business
Priya Nigam

Shopify 'Fires On All Cylinders' As Q2 Results Trigger Bullish Analyst Forecasts

Shopify SHOP Shopify Inc Reginald Smith Andrew Boone Scott Berg GMV JMP Securities JPMorgan Needham
Shopify Inc.

Shares of Shopify Inc (NASDAQ:SHOP) reported upbeat second-quarter sales, with at least two analysts raising their price targets.

  • JMP Securities analyst Andrew Boone reaffirmed a Market Outperform rating, while raising the price target from $135 to $185.
  • JPMorgan analyst Reginald Smith reiterated an Overweight rating, while lifting the price target from $115 to $179.
  • Needham analyst Scott Berg maintained a Buy rating and price target of $180.
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