Shopify price target raised to $65 from $55 at RBC Capital

RBC Capital analyst Paul Treiber raised the firm’s price target on Shopify to $65 from $55 and keeps an Outperform rating on the shares. The company’s Q4 results were "solid" with the largest quarterly revenue beat reported in the last six quarters, the analyst tells investors in a research note. While Q1 guidance below consensus is a negative, Shopify’s execution increases the firm’s confidence in the company’s ability to navigate through most macro scenarios, RBC Capital added.