Shopify price target raised to $140 from $120 at Barclays

Barclays analyst Trevor Young raised the firm’s price target on Shopify (SHOP) to $140 from $120 and keeps an Equal Weight rating on the shares following the earnings report. The firm says Shopify in a “sweet spot” where enterprise merchandise volume is scaling and agentic commerce is “coming up quickly.” High expectations coming into earnings and the stock’s “lofty valuation might keep shares a bit range-bound,” the analyst tells investors in a research note.