In a research report published Wednesday, Roth Capital analyst Darren Aftahi reiterated a Buy rating on shares of Shopify Inc (US) (NYSE:SHOP), while raising the price target to $92 (from $82), which implies an upside of 13% from current levels. The reason? Shopify delivered better-than-expected first-quarter results and raised FY17 guidance.

Aftahi noted, “While SHOP sports a premium multiple, we believe it is hard to ignore its market-leading growth (> 2x peers), even as its installed base of business expands rapidly. Based on past history, we believe upside guidance revisions are not done. In particular what is most encouraging, and why we keep our Buy is that the growth in its largest client adds is outpacing that of the rest of its business, which are having a magnified impact. This should act as a tailwind for its shares and business going forward in our view.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Darren Aftahi has a yearly average return of 0.6% and a 51% success rate. Aftahi has a 81.3% average return when recommending SHOP, and is ranked #2370 out of 4572 analysts.

Out of the 23 analysts polled in the past 12 months, 16 rate Shopify Inc. stock a Buy, while 7 rate the stock a Hold. With a downside potential of 24.7%, the stock’s consensus target price stands at $61.32.