11:52 AM EDT, 05/06/2025 (MT Newswires) -- Truist Securities has cut its price target on Shopify ( SHOP ) to US$100, from US$120 on modestly lower revenue estimates and reduced valuation expectations, asthe company reports its first-quarter results on Thursday.

While expecting relative strength and upside potential to consensus in the first quarter, Truist assumes that uncertain global macro/tariffs could cause some impact to Shopify's ( SHOP ) merchants and related consumer spending through the balance of this year.

"We assume the company maintains operational efficiency and thus no meaningful impact assumed to operating profits and FCF."

Maintain Hold.

Price: 132.14, Change: -3.71, Percent Change: -2.73