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Why Shopify Stock Was Climbing This Week

·2 min read
Why Shopify Stock Was Climbing This Week
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Shares of Shopify (NYSE: SHOP) were up as much as 12.5% this week along with a broad rally in tech stocks. At least three Wall Street analysts raised their price targets on Shopify stock ahead of the company's earnings report next week. This includes RBC Capital Markets, which boosted its price target from $1,700 to $1,800; Stifel, which raised its price target from $1,400 to $1,600; and Susquehanna, which raised its price target from $1,500 to $1,800.