Shopify price target raised to $80 from $75 at RBC Capital

RBC Capital analyst Paul Treiber raised the firm’s price target on Shopify to $80 from $75 and keeps an Outperform rating on the shares. The company’s Q2 results were better than expected amid continued market share gains, solid uptake of Payments, Capital and POS, high merchant stickiness following pricing increases, the analyst tells investors in a research note.