BUZZ-Shopify shares rise, Wedbush upgrades, raises PT

Reuters

Jan 06, 2025

** U.S. traded shares in Shopify SHOP.K gapped 2.6% higher, on track for biggest pct gain since Dec. 17 after Wedbush upgraded the stock and raised its price target citing improving margin outlook, "expectations for strong operating income growth in 2025"

** Wedbush says Shopify "dominant eCommerce software platform" with a large opportunity, considerable pricing power, "increased conviction in the company’s competitive positioning

** Says its 2025 revenue, operating income estimates rose 2% and 8%, respectively, and increased PT to $125 from $115

** Stock last traded at $112.20 vs median PT of $120.50 as per LSEG which shows 51 analyst ratings: 9 'strong buy,' 21 'buy,' 19 'hold,' 1 'sell' and 1 'strong sell' recommendation

** SHOP Up 5% in the first few trading days of 2025, in 2024 shares had risen 36.5%

(Reporting By Sinéad Carew)

((sinead.carew@thomsonreuters.com; +13322191897;))

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