Shopify price target lowered to $68 from $70 at Barclays

Barclays lowered the firm’s price target on Shopify to $68 from $70 and keeps an Equal Weight rating on the shares. The stock is under pressure as low teens quarter-over-quarter operating expenditure guidance disappointed versus “lofty” buy-side expectations, the analyst tells investor sin a research note. However, the firm says Shopify is executing “exceptionally well.” It believes “this is more an issue of expectations running too far ahead.”