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TechStock Radar
E-mail: Rob@techstockprospector.com
Technorati
February 2021
Archives
 
Thursday, February 18, 2021, 5:12 PM — by Rob DeFrancesco, TechStock Radar
Goldman Lifts Shopify Target

Goldman Sachs raised its Shopify (SHOP, $1,384) price target to $1,680 from $1,323 after the company reported Q4 revenue jumped 94% to $977.7 million, well above the consensus estimate of $910.2 million. 


Goldman said Shopify posted a strong finish to a transformative year, with GMV rising 99% to $41.1 billion.


In Q4, Shopify’s subscription solutions revenue (29% of total revenue) saw growth accelerate to 53% from 48% in Q3 and 28% in Q2. Merchant solutions revenue of $698.3 million surged 117%, driven by GMV expansion.

   
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