Analysts cut Shopify targets on concerns about tariffs and consumer spending

Open this photo in gallery: Shopify Inc. headquarters in Ottawa in May, 2023.Sean Kilpatrick/The Canadian Press Shopify Inc. SHOP-T is facing growth headwinds due to U.S. tariffs, global trade tensions and concerns about falling consumer demand, analysts say. Since U.S. President Donald Trump announced global tariffs on April 2, at least a dozen equity analysts have downgraded their price targets for the e-commerce company, citing the risk of slowing volumes of shipments by Shopify merchants. One major concern relates to the upcoming elimination of the de minimis exemption of duties payable on shipments of goods valued at under US$800 into…