Movement Alert｜Shopify Rises 3.12% in Regular Trading, Bernstein Initiates Coverage With Outperform Rating

Market Focus09-11 21:34

On September 11, Shopify rose 3.12% in regular trading, trading at approximately $130.42/share, with turnover of approximately $52.47 million. The gain was driven by Bernstein initiating coverage on the stock with an Outperform rating.

According to FactSet data, Wall Street analysts currently assign Shopify an average rating of Overweight with a mean price target of CA$240.23. Prior to Bernstein, multiple institutions including Rosenblatt, RBC Capital Markets, and Truist Securities had already issued Buy or Outperform ratings, with target prices broadly lifted to the $175–$180 range. Rosenblatt highlighted that Shopify's B2B business and international expansion remain significantly undervalued growth drivers.

Fundamentally, Shopify delivered a strong Q2, with revenue of $3.58 billion (up 33.7% year-over-year), net income surging 66%, and GMV reaching $115.57 billion. The company guided Q3 revenue growth in the low-thirties percentage range, exceeding market expectations. Wedbush described Shopify as the \"most AI-pilled\" company, noting that AI-driven commerce capabilities including agentic tools continue to deepen the platform's commercial ecosystem, supporting further valuation re-rating.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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