Analysts on Wednesday raised their price targets on Shopify Inc. (SHOP.TO, SHOP) following the Ottawa-based e-commerce company's quarterly results.

Paul Treiber at RBC Capital Markets increased his target to US$145 from US$130, and maintained an Outperform rating.

"Shopify reported solid Q4 results, with revenue exceeding consensus more than typical," Treiber said in a note to clients. "Shopify is seeing strong market share gains in key segments (enterprise, international, POS)."

"While Q1 and FY25 margin guidance were slightly below consensus, it did not weigh on investor sentiment," the analyst said. "Visibility to sustained long-term growth continues to improve, which overshadows marginally lower short-term profitability."

TD Securities analyst Daniel Chan raised his target to US$130 from $100, and maintained a Hold rating.

"Shopify continues to exhibit good top-line growth and margin expansion," Chan said in a note to clients.

"We continue to be optimistic of the company's international expansion opportunities and offline shopping traction," the analyst said. "While enterprise is still early days, management is seeing some progress."

CIBC Capital Markets analyst Todd Coupland raised his price target on the stock to US$160 from US$135, and maintained an Outperformer rating.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)