Wedbush analyst Ygal Arounian lowered the price target on Shopify Inc. to $1,270 from $1,296 and reiterated an Outperform rating on the shares. The price target implies an upside of 42 percent.
The analyst expects Shopify to report strong results in Q4, with more robust growth earlier in the quarter, offsetting slower overall BFCM and December spending.
