Shopify stock jumps nearly 7% as BMO cuts target and earnings loom
Shopify shares jumped 6.8% to $119.64 in Monday afternoon trading ahead of its fourth-quarter results due Wednesday. BMO cut its price target to $150 but kept an Outperform rating, while Citizens held a $200 target and flagged potential for a “beat-and-raise” quarter. Trading volume neared 9 million shares. Peers Wix.com and Etsy showed little movement.