The Globe and Mail reports in its Tuesday, Jan. 7, edition that Wedbush analyst Scott Devitt has elevated his recommendation for Shopify to "outperform" from "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Devitt gave his share target a $10 boost to $125 (all figures U.S.). Analysts on average target the shares at $117.84. He says in a note, "We are more constructive on shares in the near-term given an improving margin outlook following Q3 results and expectations for strong operating income growth in 2025." He says Shopify is the "dominant eCommerce software platform" with a large opportunity, considerable pricing power and has "increased conviction in the company's competitive positioning." The Globe reported on Dec. 7, 2023, that Mr. Devitt had downgraded Shopify to "neutral" from "outperform." In the item Mr. Devitt said, "We see opportunities for greater upside elsewhere in our e-commerce coverage." Shopify shares could then be had for about $70. The Globe reported on Nov. 14, 2024, that RBC's Paul Treiber had reaffirmed his "outperform" recommendation for Shopify. In the item he said, "We expect Shopify's premium valuation multiple to be sustained." It was then worth $109.08.