Why Shopify Stock Is Rising Today

Shares of Shopify (NYSE: SHOP) were trading higher on Thursday, after a key analyst raised his price target for the e-commerce specialist's stock to $1,000 per share.

As of 1:45 p.m. EDT, Shopify's shares were trading at just over $865, up about 5.9% from Wednesday's closing price.

In a new note on Thursday morning, RBC Capital analyst Mark Mahaney raised his price target for Shopify's stock to $1,000, from $825, while maintaining an outperform rating on the shares. 

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Source Fool.com