Shopify price target raised to $70 from $65 at Barclays

Barclays raised the firm’s price target on Shopify to $70 from $65 and keeps an Equal Weight rating on the shares as part of a Q3 earnings preview for the web tools group. The group has continued its strong outperformance year-to-date, the analyst tells investors in a research note. The firm raised its Q3 volume estimate for Shopify in light of improving consumer data in August and September after a more cautious read back in August.