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. |
