Shopify price target raised to $90 from $85 at Seaport Research

Seaport Research raised the firm’s price target on Shopify to $90 from $85 and keeps a Buy rating on the shares. The company reported another record quarter but the stock is down “largely due to near-term positioning dynamics,” the analyst tells investors in a research note. The firm believes pricing adjustments and further growth in Shopify’s merchant base will help drive further expansion in Subscription Solutions revenue over time.