Shopify price target raised to $87 from $85 at Baird

Baird analyst Colin Sebastian raised the firm’s price target on Shopify to $87 from $85 and keeps an Outperform rating on the shares. The firm said based on their updated e-commerce platform survey, they see modest sequential growth in the number of net active Shopify stores, with notable strength in Plus, Enterprise, B2B and non-U.S. sites, each of which is a key area of focus for the company.