Yahoo Finance

Roth Capital lowered the firm’s price target on Shopify (SHOP) to $115 from $136 and keeps a Buy rating on the shares. The firm’s Q1 merchant checks suggest 21% year-over-year average growth, below Roth’s 25% gross merchandise volume growth estimate. However, Shopify has outperformed Roth’s survey work by 590 basis points the last four quarters, the analyst tells investors in a research note. Nonetheless, Roth says its merchant checks suggest some consumer softness trends in second half of March and first half of April, which drives “modest” estimate revisions downward for the remainder of 2025.

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