Shopify price target raised to $90 from $86 at DA Davidson

DA Davidson raised the firm’s price target on Shopify to $90 from $86 and keeps a Buy rating on the shares. The company’s strong Q4 results continue to showcase Shopify’s ability to monetize its unified platform offering and drive efficient growth, the analyst tells investors in a research note. Expectations were high heading into the print, but the company posted positive momentum, including a top line beat and improving profitability metrics, the firm added.