Shopify price target raised to $36 from $33 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Shopify to $36 from $33 and keeps a Hold rating on the shares. The analyst is citing his quarterly survey of 500 Shopify merchants, stating that he was generally encouraged by the results, particularly the sequential improvements in sales trends feedback and merchant satisfaction. Chukumba adds that he "remains comfortable" with his above-consensus Q4 revenue estimate.