Shopify (SHOP) is advancing 5% after multiple banks issued upbeat notes on the shares in the wake of the company’s fourth-quarter results. SHOP reported its Q4 results on Tuesday.
Banks’ Views on SHOP
Wells Fargo expects SHOP to gain additional market share this year and believes that the company’s financial results can continue to surpass analysts’ average estimates. The bank raised its price target on the shares to $135 and kept an Overweight rating on the name. Bank of America believes that SHOP’s investments will help boost its growth going forward, and the bank thinks that the impact of America’s tariffs on the company will be limited. It kept a Buy rating on SHOP.
Raising its price target on SHOP to $120 from $110 was Truist. The bank is more positive on the company’s fundamentals in the wake of its strong Q4 results. However, it kept a Hold rating on the shares, citing valuation.
More Information About SHOP
Analysts on average expect the company’s earnings per share to jump to $1.48 this year from $1.26 in 2024. The mean estimate calls for its revenue to advance to $10.9 billion in 2025 from $8.88 billion last year.
In the last month, the shares have climbed 23%, while they are up 17% in the last three months.
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This article is originally published at Insider Monkey.
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