On September 14, Shopify rose 3.02% in regular trading, trading at approximately $132.74 per share, with turnover of $3.5 billion. The rally was driven by a wave of bullish analyst actions from major Wall Street investment banks.
On the news front, Bernstein initiated coverage on Shopify with an Outperform rating, while Piper Sandler raised its price target from $172 to $180, maintaining an Overweight rating. According to FactSet data, the consensus analyst rating on Shopify stands at Overweight, with a mean price target of CA$240.23. Earlier, Rosenblatt initiated coverage with a Buy rating and a $175 target, highlighting underappreciated B2B and international expansion potential. RBC raised its target to $180 from $170, and Truist Securities lifted its target to $180 from $150, both maintaining bullish ratings.
The concentrated upgrades are underpinned by strong Q2 fundamentals. Shopify reported Q2 revenue of $3.58 billion, up 33.7% year-over-year, with net income surging 66%. GAAP EPS came in at $1.16, far exceeding the $0.30 consensus estimate. GMV reached $115.57 billion, growing 32% year-over-year, as AI-powered commerce capabilities continued to deepen across the platform.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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