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Fly News Breaks for February 13, 2020
SHOP
Feb 13, 2020 | 09:37 EDT
SunTrust analyst Terry Tillman raised his price target on Shopify to $585 after its better than expected Q4 results across the board, balancing strength in subscription and merchant solutions revenue. The analyst also notes that the company's total revenue accelerated for the first time since Q4 of 2015 and its international business is ramping. Tillman still keeps his Hold rating on Shopify shares however, noting its 30-times expected FY20 revenue valuation multiple.
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