Shopify price target raised to $89 from $85 at Roth MKM

Roth MKM analyst Darren Aftahi raised the firm’s price target on Shopify to $89 from $85 and keeps a Buy rating on the shares. The company’s Q4 headline numbers beat expectations, even though its operating margins were modestly lower, the analyst tells investors in a research note. Shopify continued to see impressive growth given its size as Gross Payments Volume and revenue accelerated relative to last year, the firm added.