Shopify Inc (NASDAQ:SHOP) shares are trading higher on above-average volume Monday on the heels of positive analyst coverage from Jefferies.
What Happened: Jefferies analyst Samad Samana maintained Shopify with a Hold rating and raised the price target from $44 to $65.
Shopify has an average session volume of approximately 16 million. Monday’s trading volume has already exceeded 17 million at publication time.
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SHOP Price Action: Shopify is making new 52-week highs on Monday. The stock is up more than 88% year-to-date.
Shopify shares were up 6.13% at $65.12 at the time of publication, according to Benzinga Pro.
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