Shopify price target raised by $12 at Seaport Research, here’s why

Seaport Research analyst Jeff Cantwell raised the firm’s price target on Shopify to $82 from $70 and keeps a Buy rating on the shares. Shopify’s investor day was high quality, highlighting the company’s growing relevancy with merchants as it continues to broaden out its product lineup over time, the analyst tells investors in a research note. The firm came away incrementally more positive on the shares.