Roth Capital Partners analyst Darren Aftahi maintained a Buy rating on Shopify with a price target lifted from $165 to $192.
firsthand checks and conversations with approximately 90 merchants [samples size=90] who use Canada-based Shopify’s platform:
* Respondents who use Shopify’s Merchant businesses saw a median growth rate of 48 percent year-over-year.
* 79 percent use Shopify’s payments platform, a flat number from one year ago.
* 37 percent use Shopify’s shipping solutions, up from 35 percent last quarter.
* Twelve users said they’re seeing a positive impact from integration with Instagram.
*30 merchants signed up for integration with Amazon.com, Inc. (NASDAQ: AMZN) and are bullish on those prospects.