- Goldman Sachs boosts its price target on Shopify (SHOP +1.1%) to $1,318 after factoring in a much higher take rate for the online platform over the long term.
- "We believe the steady growth in value-added services offered by SHOP has significantly expanded the company’s opportunity per merchant," updates the firm.
- While most of Wall Street expects big growth numbers out of Shopify, GS takes the math all the way out to 2040 to see total revenue of over $161B.
- Wall Street scorecard on Shopify: 13 Buy-equivalent ratings, 18 Neutral-equivalent ratings and 3 Sell-equivalent ratings.
- Valuation concerns have kept analysts a bit more cautious with their shorter-term ratings than a year ago.
