Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) had its price objective upped by investment analysts at Cantor Fitzgerald from $127.00 to $145.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 0.53% from the stock’s current price.
SHOP has been the subject of several other reports. BMO Capital Markets started coverage on Shopify in a report on Friday, July 10th. They issued a “market perform” rating for the company. Robert W. Baird set a $150.00 target price on Shopify in a report on Wednesday, May 6th. Wells Fargo & Company cut their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Shopify in a research report on Monday, July 20th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.58.
Read Our Latest Stock Analysis on SHOP
Shopify Trading Up 17.0%
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.58 billion during the quarter. During the same period last year, the firm earned $0.69 earnings per share. Shopify’s revenue was up 33.7% on a year-over-year basis. On average, analysts forecast that Shopify will post 1.4 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Shopify by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 50,670,627 shares of the software maker’s stock valued at $8,158,643,000 after purchasing an additional 743,803 shares during the period. Norges Bank acquired a new position in Shopify during the fourth quarter worth $2,611,797,000. Invesco Ltd. grew its holdings in Shopify by 9.8% in the fourth quarter. Invesco Ltd. now owns 14,026,193 shares of the software maker’s stock valued at $2,257,796,000 after purchasing an additional 1,252,074 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Shopify by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 12,601,476 shares of the software maker’s stock worth $2,043,365,000 after buying an additional 737,892 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Shopify by 9.1% in the 4th quarter. Mackenzie Financial Corp now owns 9,961,097 shares of the software maker’s stock valued at $1,627,352,000 after acquiring an additional 827,643 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.
Key Stories Impacting Shopify
Here are the key news stories impacting Shopify this week:
- Positive Sentiment: Broad-based Q2 growth exceeded expectations. Revenue rose 33.7% year over year to $3.58 billion, while adjusted EPS of $0.42 topped the roughly $0.40 consensus estimate. Gross merchandise volume, gross profit and free cash flow also grew more than 30%, and free-cash-flow margin reached 18%. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
- Positive Sentiment: Q3 guidance was above Wall Street forecasts. Shopify projected revenue of approximately $3.7 billion to $3.8 billion, implying growth in the low 30% range and exceeding the consensus estimate of about $3.6 billion. The outlook eased concerns that AI competition could slow merchant additions or pressure growth. Shopify expects Q3 revenue growth in the low 30s as it expands agentic commerce infrastructure
- Positive Sentiment: AI is generating additional traffic and orders. Shopify said referrals from AI platforms including ChatGPT and Gemini, along with orders originating from those channels, tripled year over year in Q2. Management described AI as expanding entrepreneurial access and positioning Shopify as infrastructure for agentic commerce. Shopify executive says AI is ushering in a golden age of entrepreneurship
- Positive Sentiment: Both major business segments contributed. Subscription solutions and merchant services helped drive the profit increase, suggesting growth is not dependent on a single product line. Shopify Profit Jumps as Subscriptions, Merchant Services Boost Revenues
About Shopify
Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.
Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.
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